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ICG launches 5% retail bond


Fund manager and specialist lender Intermediate Capital Group has launched an offer of 5% sterling bonds due 2023 aimed at the retail market.  

The Bonds will pay a fixed rate of interest of 5% per annum. Interest will be payable twice yearly on 24 March and 24 September in each year, with the first coupon payment being made on 24 September 2015. The Bonds will mature on 24 March 2023. The Bonds have a minimum initial subscription amount of GBP2,000 and are available in multiples of GBP100 thereafter. The offer period will open on 4 March 2015 and is expected to close at noon (London time) on 18 March 2015. ICG retains the right to close the offer early, in conjunction with Canaccord Genuity Limited (the “Lead Manager”).
This launch follows ICG’s previous bond issues in December 2011 and September 2012, in which a total of GBP115m of retail bonds were issued.
ICG is a FTSE 250 company and a leading specialist fund manager, providing higher yielding debt and equity to mid-sized companies and asset backed sectors.
At any time prior to the maturity of the Bonds, investors can sell the Bonds (within market hours and in normal market conditions) on the open market through their stockbroker. The bonds are expected to be listed on the Official List of the UK Listing Authority and admitted to trading on the regulated market of the London Stock Exchange. The Bonds also expected to be eligible for the London Stock Exchange’s electronic Order Book for Retail Bonds.
Canaccord Genuity Limited is acting as Lead Manager.

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