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Stobart Group offers savings bond

 

Stobart Group has achieved a first for an operator in the logistics sector, by entering the savings market with a new six-year bond.

The retail bond is aimed at small investors, and will yield a fixed-rate of 5.5% per annum.

The move comes after the likes of Tesco, John Lewis and National Grid all launched products in the retail bond market, offering investors relatively attractive interest rates in exchange for tying up their money.

Stobart bonds will be available to buy and trade on the London Stock Exchange, and can be bought in multiples of £100. There is a minimum investment of £2,000. Interest will be paid in half-yearly instalments.

Stobart chief financial officer Ben Whawell said: “Following a successful UK road show to test market conditions for a retail bond issue, we are very pleased to announce our entry to the market today.”

The issue is being managed by investment bank Canaccord Genuity and is open until 27 November, although it may close earlier.

Under the terms of the bond issue, If Stobart Group were to default or become insolvent, investors may lose some or all of their investment.

 

 

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