Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. Registration is free and only takes a minute.

Intermediate Capital teams up with Canaccord for retail bond

Intermediate Capital teams up with Canaccord for retail bond

Intermediate Capital Group (ICG) has appointed Canaccord Genuity in a move to launch a sterling-denominated retail bond issue.

ICG, the credit and finance structuring firm, said in a stock exchange announcement is was looking to offer bonds, subject to market conditions, and has appointed Canaccord to arrange meetings with stockbrokers and wealth managers to discuss the potential issuance.

At the end of last year, ICG teamed with Evolution for the issue of retail bonds yielding 7%, which raised £35 million.

A spokesperson for ICG said the same team from Evolution joined Canaccord and will be working with ICG again for the new issue.

In July, three new issuers raised £275 million on the retail bond market, with Severn Trent’s RPI-linked bond raising £75 million.

Primary Health Properties also raised £75 million with bonds offering 5.375%, while ICAP’s 5.5% bond raised £125 million.

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.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Investment Pulse: the highs and lows of 2014

Investment Pulse: the highs and lows of 2014

This week's Investment Pulse looks back at some of the biggest stories of the year as well as looking forward to 2015.

Play Inside ETFs: Why the US bull-run still has legs

Inside ETFs: Why the US bull-run still has legs

Global equities suffered a sharp sell-off in the third quarter but exchange traded fund investors are continuing to back the US to outperform in 2015

Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter