Bruntwood raises £50m with retail bond after Grafton failure
Bruntwood, the family-owned company that owns office buildings in Birmingham, Manchester, Liverpool and Leeds, completed its first bond issue today, raising £50m from UK retail investors.
This was the bottom end of the £50m-£70m range the company had been looking for with the unrated bond, led by Investec.
The seven year bond has a 6% coupon and is secured on five properties – Alberton House, South Central and Lancastrian Office Centre in Manchester, West
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