New Primary Retail Bond Business
18 February 2011
The Evolution Group PLC
New Primary Retail Bond Business
Evolution Securities, the investment banking subsidiary of the Evolution Group PLC, has today successfully completed a debut retail bond issue on behalf of Tesco Bank.
Evolution acted as Joint Bookrunner and Distributor for the issue which successfully raised £125m on the back of exceptionally strong demand.
Tesco is one of the most prestigious borrowers in the UK. Evolution proposed the concept of a retail bond programme and won the mandate in a competitive process. This is the first time that Evolution has structured and arranged a retail bond and it represents a major achievement for the firm.
Evolution has been one of the principal supporters and market makers on the Retail Bond Market - the ORB. The issue marks an important step in the development of this market and enhances Evolution's reputation as an innovator in the sector.
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For further information, please contact:
The Evolution Group PLC 020 7071 4300
Alex Snow, Chief Executive Officer
Andrew Westenberger, Finance Director
Attila Consultants 020 7776 8825
Charles Cook, Senior Partner
Notes to Editors:
The Evolution Group PLC
The Evolution Group PLC is the holding company of Evolution Securities Limited ("Evolution Securities" and "Evolution") and Williams de Broë Limited. Founded in April 2001 and originally listed on AIM, the Evolution Group joined the LSE Official List in 2003. The Group now has a market capitalisation of approximately £175 million.
This information is provided by RNS