News

International Personal Finance plc launches retail bond on ORB

8 May 2013

International Personal Finance plc has issued a new retail bond on ORB - an 6.125% 7 year bond that raised £70 million. The book closed early due to strong demand for the bond.

Price details and relevant documentation may be found here.

Provident Financial plc launches retail bond on ORB

27 Mar 2013

Provident Financial plc, one of the UK's leading suppliers of personal credit products to the non-standard lending market, has just launched a new retail bond issue - a 6% 8 1/2 year bond listed on 27 March that raised £65 million.

Price details and relevant documentation may be found here.

Paragon Group of Companies PLC launches retail bond on ORB

6 Mar 2013

The London Stock Exchange welcomes Paragon Group of Companies PLC, specialist lender of buy-to-let mortgages, on its Order book for Retail Bonds (ORB). Paragon's 7 year and 9 month maturity bond raised £60 million and offers a fixed annual coupon of 6%.

Price details and relevant documentation may be found here.

EnQuest PLC launches retail bond on ORB

15 Feb 2013

The London Stock Exchange welcomes EnQuest PLC as a new issuer on its Order book for Retail Bonds (ORB). This 9 year maturity bond raised £145 million and offers a fixed annual coupon of 5.5%.

Price details and relevant documentation may be found here.

Winterflood Securities welcomed on ORB as market maker

11 Feb 2013

Oliver Brown, Head of Fixed Income at Winterflood Securities, opened London market this morning and joined ORB as market maker. Winterfloods will provide liquidity on corporate bonds and Gilts tradable on ORB.

The full welcome story is available here.

Launch of FTSE ORB Index Series

31 Jan 2013

FTSE launches new FTSE ORB Index Series: the first independent performance benchmarks for UK retail bonds developed in conjunction with Investec.

More information may be found on FTSE's website.

3rd ORB Anniversary

28 Jan 2013

The London Stock Exchange is hosting an event to mark the third anniversary of the Order book for Retail Bonds on 12 February 2013.

A working agenda for this event may be found here.

EnQuest PLC announces its first retail bond on ORB

24 Jan 2013

EnQuest PLC, the largest independent UK producer of oil in the UK North Sea, has just announced a new retail bond issue - a 5.50% 9 year bond, expected to list on ORB on 15th February.

Offer details may be found here. 

A confident 2012 for ORB in both the primary and secondary market

3 Jan 2013

Milestone achievements in 2012:

• New issues on ORB raised more than £1.5 billion in 2012, up 22% on previous year. Total money raised through 32 new bonds on ORB is now at £3 billion since its launch
• On book trading of corporate bonds in 2012 was more than five times higher than 2011 
• Off book trading of corporate bonds grew by 58% compared with the previous year

Alpha Plus launches secured retail bond on ORB

19 Dec 2012

The London Stock Exchange welcomes Alpha Plus Holdings plc as a new issuer on its Order book for Retail Bonds (ORB). The bond raised £48.5 million through the first secured issue on ORB since its launch.

Unite Group launches retail bond on ORB

12 Dec 2012

The London Stock Exchange welcomes Unite Group plc as a new issuer on its Order book for Retail Bonds (ORB). The bond raised £90 million and offers a fixed annual coupon of 6.125%.

Further information and relevant documentation available here. 

Tullett Prebon launches retail bond on ORB

11 Dec 2012

Tullett Prebon plc launches a 6.5 year bond paying 5.25% per annum, after raising £80 million on ORB's primary market.

Further information and relevant documentation available here.

St. Modwen Properties launches bond on ORB

8 Nov 2012

St. Modwen Properties plc lists fixed rate bond paying 6.25% per annum due 2019 on ORB.

The retail bond closed the book after raising £80 million on the primary market.

Further information and relevant documentation available here.

London Stock Exchange Group launches its first retail bond on ORB

5 Nov 2012

London Stock Exchange Group plc 9 year retail bond has been listed on ORB on 5 November 2012.

The bond raised £300 million and offers a 4.75% fixed annual coupon.

Further information and relevant documentation available here.

ORB panel at the London Investor Show

26 Oct 2012

An ORB panel session was featured at the London Investor Show at London Olympia on 26 October 2012. The panel included Patrick Gordon from Killik & Co, David Budworth from The Times and Peter Temple an expert and author in Fixed Income. The panel was moderated by Mark Glowrey from Canaccord Genuity. Key themes of discussion included:

• balance of bonds in a portfolio
• bond issuer financial health and agency ratings
• what are some of the risks and is the coupon a suitable compensation for taking on the risks
• yield indicators?
• bond funds and bond ETFs
• liquidity and ease of access to bonds on ORB