Issuance of Prospectus and Corporate Bond

One Heritage Group plc (OHG)
One Heritage Group plc: Issuance of Prospectus and Corporate Bond

14-March-2022 / 13:59 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


14 March 2022

ONE HERITAGE GROUP PLC

(the "Company" or "One Heritage")

Issuance of Prospectus and Corporate Bond

One Heritage Group PLC (LSE: OHG), the UK-based residential developer focused on the North of England, is pleased to announce the issue of a Prospectus approved by the FCA in relation to the issue of a £1.5 million unsecured corporate bond ("Bond").  Application for the listing of the Bond on the standard segment of the Official List and to trading on the Main Market of the London Stock Exchange have been made and Admission is expected on 17 March 2022. The Bond has a fixed annual coupon of 8.0%, which will be paid semi-annually, is not convertible, and will mature in March 2024. 

The net proceeds from the Bond will be used to partially repay the existing loans outstanding from One Heritage SPC, which were extended on 21 January 2022 to 22 July 2023 and 11 August 2023 respectively and have an interest rate of 12.0%. After this proposed repayment, the outstanding loan from One Heritage SPC will be £1.2 million with the loan expiring on 11 August 2023.

Jason Upton, CEO of One Heritage Group commented: "The issue of the corporate bond  demonstrates how the management team is diversifying sources of funding for the Company, in order to reduce the risk of refinancing and the cost of finance. The funds were all raised outside of the UK, which demonstrates the strength of our overseas network, notably in Hong Kong."

 

Contacts

One Heritage Group plc

 

Jason Upton

Chief Executive Officer

Email: jason.upton@one-heritage.com

 

Luke Piggin

Finance Director

Email: luke.piggin@one-heritage.com

 

Hybridan LLP (Financial Adviser and Broker)

Claire Louise Noyce

Email: claire.noyce@hybridan.com

Tel: +44 (0)203 764 2341

About One Heritage Group

One Heritage Group PLC is a property development and management company. It focuses on the residential sector primarily in the North of England, seeking out value and maximising opportunities for its investors. In 2020 One Heritage Group PLC became one of the first publicly listed residential developers with a focus on co-living.

The Company is listed on the Standard List of the Main Market of the London Stock Exchange, trading under the ticker OHG. 

For further information, please visit the Company's website at https://www.oneheritageplc.com/

 

 

 



ISIN: GB00BLF79495
Category Code: IOD
TIDM: OHG
LEI Code: 2138008ZZUCCE4UZHY23
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 148952
EQS News ID: 1302009

 
End of Announcement EQS News Service

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