Paragon retail bond flies, will be at least £100m
Paragon Group, the UK buy-to-let mortgage lender and consumer debt purchaser, has found eager demand for its second retail bond issue, prompting it to increase the deal beyond the original intended size of £60m-£100m.
The unrated, unsecured bond is a 6.125% eight year transaction, led by Canaccord Genuity. It follows Paragon’s first retail issue in February 2013, also led by Canaccord.
That 7.7 year (December 2020) bond paid a 6% coupon and was closed at a size of £60m, hitting Paragon’s size
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