A first retail bond from a P2P platform

We’ve not had a retail bond from an alternative-finance firm, says David C Stevenson. That is, until now.

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We've had plenty of new alternative-finance platforms emerge over the past few years here in the UK, and plenty of them have issued dreadful-looking mini-bonds. We've also had more than a few innovative businesses (such as litigation-finance firm Burford Capital) issue retail bonds on the London market. However, we've not had a retail bond from an alternative-finance firm until now.

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IssuerLendInvest Secured Income PLC
GuarantorLendInvest Limited
Nominal amount£50m
RatingUnrated
RepaymentBullet at par
Coupon5.25%, semi-annual in arrears
Early redemptionGilts + 100 bps
Coupon dates10 February, 10 August
First settlement date10-Feb-18
Maturity date10-Aug-22
ISIN numberXS1649806343
Denominations£100
ListingLondon Stock Exchange
Governing lawEnglish law
Lead managerPeel Hunt LLP
David C. Stevenson
Contributor

David Stevenson has been writing the Financial Times Adventurous Investor column for nearly 15 years and is also a regular columnist for Citywire. He writes his own widely read Adventurous Investor SubStack newsletter at davidstevenson.substack.com

David has also had a successful career as a media entrepreneur setting up the big European fintech news and event outfit www.altfi.com as well as www.etfstream.com in the asset management space. 

Before that, he was a founding partner in the Rocket Science Group, a successful corporate comms business. 

David has also written a number of books on investing, funds, ETFs, and stock picking and is currently a non-executive director on a number of stockmarket-listed funds including Gresham House Energy Storage and the Aurora Investment Trust. 

In what remains of his spare time he is a presiding justice on the Southampton magistrates bench.