RNS Number : 2357U
Intermediate Capital Group PLC
19 December 2011
19 December 2011
INTERMEDIATE CAPITAL GROUP PLC 7% RETAIL STERLING BOND - CLOSE OF OFFER PERIOD
ICG PLC announces that the offer period for its 7% Sterling Bonds aimed at retail investors, which began on 30 November 2011, has now closed.
Following a successful book building process ICG PLC expects to issue £35 million on 21 December 2011.
Philip Keller, CFO, at ICG PLC, said:
"We are pleased with the response for our first retail bond in overall difficult market conditions. This first issuehas met our objective of establishing ICG as a successful name in the retail bond market, which we see as an attractive new source of funding for ICG as we continue to diversify our debt financing profile.
We see a growing pipeline of potential investments due to the dislocation in the credit markets, and are keen to maintain the strength of our balance sheet in order to take advantage of the opportunities."
Adrian Bell, Head of Advice and Origination at Evolution added:
"The retail bond market continues to go from strength to strength despite the challenging economic and political climate. The issue by ICG breaks new ground in the market by bringing a fund management business with a successful track record to retail investors as a fixed income product. This further broadens the array of issues available in the UK retail bond market."
For further information please see Intermediate Capital Group plc's website: http://www.icgplc.com
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