Launch of 6.125% Sterling Retail Bonds due 2020

RNS Number : 6992R

Unite Group PLC

21 November 2012

 



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The UNITE Group plc launches 6.125% Sterling Retail Bonds due 2020

("UNITE")

The UNITE Group plc, the UK's leading provider of student accommodation, today launches its 6.125% Retail Bonds due 2020.

With a portfolio worth £1.3 billion, UNITE delivers high quality modern homes to over 42,000 students in 130 properties in 23 UK cities.

The Bonds will pay a fixed rate of interest of 6.125% per annum, payable twice yearly on 12 June and 12 December of each year with the first coupon payment being made on 12 June 2013 and the Bonds maturing on 12 June 2020. At any time during the life of the Bond, investors are permitted to sell the Bonds (within market hours and in normal market conditions) on the open market through their stockbroker.

The Bonds have a minimum initial subscription amount of £2,000 and in multiples of £100 thereafter. The offer period will open on 21 November 2012 and is expected to close on 5 December 2012. UNITE retains the right to close the offer early, in conjunction with the Joint Lead Managers.

The Bonds are expected to be listed on the LSE and admitted to trading on the LSE's Regulated Market and through the Order Book for Retail Bonds.

Investec Bank plc and Numis Securities Limited will act as Joint Lead Managers on this issue.

The Authorised Distributors are:

-     Barclays Stockbrokers

-     Brown Shipley

-     Killik & Co

-     Pilling & Co Stockbrokers

-     Redmayne-Bentley

-     Selftrade (execution only)

-     Smith & Williamson Securities

-     Stocktrade (a division of Brewin Dolphin Ltd)

Mark Allan, Chief Executive Officer of The UNITE Group plc, commented:

"We are delighted to announce the launch of UNITE's debut retail bond. This is an exciting market at the moment, as demonstrated by the significant private investor appetite for bonds issued by well established companies with strong track records of cash generation and positive market fundamentals."

-Ends-

For further information, please see UNITE's website: www.unite-group.co.uk/investors/bonds

The UNITE Group plc Mark Allan Joe Lister	0117 302 7004
Pelham Bell Pottinger Victoria Geoghegan Duncan Mayall Elizabeth Snow	020 7861 3925
Investec Bank plc Chris Babington Nicolas Levandowsky	020 7597 4793
Numis Securities Oliver Cardigan Heraclis Economides Oliver Hardy	020 7260 1000

 

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