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The Paragon Group of Companies PLC Launches 6% Retail Bonds Due 2020 as Initial Transaction Under GBP 1 Billion Euro Medium Term Note Programme

Wednesday, 13 Feb 2013 04:00am EST 

The Paragon Group of Companies PLC announced that it has, on February 13, 2013, launched an offer of 6% sterling bonds due December 2020. The bonds are available to retail investors and are being issued by Paragon for general corporate purposes. This is the initial transaction under a GBP 1 billion Euro Medium Term Note Programme. Fixed interest at the rate of 6% per annum, will be payable semi-annually in arrear on March 5 and September 5 of each year until September 5, 2020, with a final short coupon payable on December 5, 2020, the date the bonds mature. The first coupon payment will be on September 5, 2013. At any time during the life of the bonds, investors are permitted to sell the bonds (within market hours and in normal market conditions) on the open market through their stockbroker. Canaccord Genuity Limited is acting as Manager on this issue. The bonds have a minimum initial subscription amount of GBP 2,000 and are available in multiples of GBP 100 thereafter. The offer period is open and is expected to close at 5pm (London time) on February 26, 2013. The Manager retains the right to close the offer early, in conjunction with Paragon. The bonds are expected to be listed on the UK Listing Authority's Official List and admitted to trading on the London Stock Exchange's regulated market and through the electronic Order Book for Retail Bonds. 

Company Quote

6.1 +1.48%
11:23am EST