The bond was announced on 18 February and it is ICG’s third retail bond. ICG has raised £275m in aggregate across the three issues which further diversifies ICG’s funding sources.
Philip Keller, Chief Financial Officer of ICG said:
We are delighted by the excellent response from retail investors looking for exposure to the financial sector.
This not only provides investors with an opportunity to invest in ICG at an attractive level, it is also an important source of funding, but also reflects a strong level of confidence in ICG and our strategy.
The bond will be issued on 24 March 2015, as follows:
Issue Date:
24 March 2015
Aggregate principal amount of the Bonds:
£160,000,000
Estimated net proceeds of the offer:
£158,800,000
Estimated total expenses:
£282,000
Date of Board and Committee approval for issuance of the Bonds obtained:
17 February 2015 and 3 March 2015, respectively
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