CLS Holdings, the London-listed property investment company has launched a 5.5% sterling retail bond redeemable in 2019.
CLS Holdings, the London-listed property investment company has launched a 5.5% sterling retail bond redeemable in 2019.
The bonds will be listed on the London stock exchange's order book for retail bonds while Canaccord Genuity has been appointed Lead Manager of the bond issue.
The offer period for the bond - which will pay interest semi-annually to bondholders - will open on 22 August 2012 and is initially expected to remain open until September 4, 2012, targeting retail investors, wealth managers, IFAs and private client stockbrokers. However, should the offer attract the target funding sooner than expected the offer period may close earlier than scheduled.
The proceeds of the bond will be used for general corporate purposes, the company added.
CLS has a portfolio of well-let offices in London, France, Germany and Sweden with a net initial yield of 7% per annum and an occupancy rate of 96.5%.
