- July's issues bring total amount raised on ORB to over £2bn since launch
- Severn Trent Plc's RPI-linked bond raises £75m
- Primary Health Properties Plc's 5.375% bond raises £75m
- ICAP's 5.5% bond raises £125m
London Stock Exchange today welcomes ICAP as a new issuer on its Order book for Retail Bonds (ORB). The bond, which raised £125 million, saw its offer period closed after only four full business days due to high demand from investors. It offers a fixed annual coupon of 5.5 per cent, is tradable in denominations of £100, and will mature in 2018.
The listing follows the admission of bonds from first time issuers Severn Trent Plc and Primary Health Properties Plc, also in July. Those bonds both met their funding targets, raising £75 million each. July's listings take the total amount of money raised on ORB to £2 billion, since its launch in February 2010.
Pietro Poletto, Head of Fixed Income Markets at London Stock Exchange Group, said:
"From water services to real estate trusts, FTSE SmallCap to FTSE 100, it's clear that a truly diverse range of businesses are starting to appreciate the fundraising potential of London Stock Exchange's retail bond market. In July alone, £275 million has been raised from private investors with demand so high that ORB has repeatedly seen issues oversubscribed. We continue to see a strong pipeline of capital-seeking firms which are keen to be connected with retail investors in this way."
ORB now offers trading in over 150 corporate, government and supranational bonds, all tradable in typical denominations of £1,000 or less. All bonds are stamp duty-exempt, and those maturing in five years or more are eligible for inclusion in ISAs and SIPPs.