Unite Group issues first retail bonds

Student accommodation group Unite has launched its first retail bonds, which have a fixed rate of 6.125 per cent and are due in June 2020.

The bonds, which are payable twice yearly on June 12th and December 12th, have a minimum initial subscription amount of £2,000 and in multiples of £100 thereafter.

The offer period begins November 21st and closes December 5th.

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Mark Allan, Chief Executive Officer of The UNITE Group, said: "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."

Investors are able to sell the bonds at any time during the life of the bond.

The share price fell 1.31% to 263.30p by 13:00.

NR