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Grafton Group launches 5.5 per cent Sterling retail bonds due 2020


Grafton Group, the builders merchanting and DIY group with operations in the UK, Ireland and Belgium, has launched 5.5 per cent Sterling Retail Bonds due 2020, which will be issued by its wholly owned subsidiary Grafton Group Finance and guaranteed by Grafton and certain of Grafton’s subsidiaries.

The bonds bear a fixed interest rate of 5.5 per cent per annum and will be payable semi-annually to holders on 15 January and 15 July each year.
The bonds are available for purchase in the period from 24 June 2013 until noon on 8 July 2013 (British Summer Time), or such earlier date as agreed by the issuer, Grafton and the manager and announced via a Regulatory Information Service.
The minimum initial investment is GBP2,000 and the bonds can be bought and sold at their face value of GBP1,000 plus increments of GBP100 in excess of GBP1,000 thereafter.
The bonds are also expected to be listed on the UK Listing Authority’s Official List and admitted to trading on the London Stock Exchange’s regulated market and through the electronic order book for retail bonds.
Investec Bank is acting as manager on this issue.
Gavin Slark, chief executive officer, Grafton Group, says: "The group is pleased to launch its first listed retail bond as part of its strategy of diversifying its sources of funding and extending the maturity profile of its debt."

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