Specialist Investment Firm Intermediate Capital Group plc Launches First Retail Bond on ORB

Specialist Investment Firm Intermediate Capital Group plc Launches First Retail Bond on ORB

  • Issue raises £35 million
  • Fixed rate 7% 7-year bond
  • Over £500 million raised on ORB in the last 6 months

The London Stock Exchange today welcomed the latest new bond listing to its Order book for Retail Bonds (ORB). ICG plc, the specialist investment firm and asset manager, has raised £35 million on the market. Evolution Securities acted as book runners on the deal.

The launch of the bond shows the diverse range of sectors that ORB is currently supporting. The fixed rate 7-year bond is available in £100 denominations with a minimum initial investment of £2,000.

This latest offering takes total fundraising on ORB in the last six months to over £500 million, with 154 bonds now available for trading on the platform.

Pietro Poletto, Head of Fixed Income Markets at London Stock Exchange Group, said:

"We are delighted that ICG has issued a corporate bond on ORB, a sign that an increasingly diverse range of companies are looking to this market to issue debt. A non-retail name raising such an impressive amount with their first offering on ORB shows investor appetite is strong. ORB has shown that it can help companies diversify their debt portfolio while at the same time offering private investors the chance to participate in the UK’s growing retail bond market."

Philip Keller, CFO, at ICG plc, said:

"We are pleased with the response for our first retail bond in overall difficult market conditions. This first issue has met our objective of establishing ICG as a successful name in the retail bond market, which we see as an attractive new source of funding for ICG as we continue to diversify our debt financing profile.

We see a growing pipeline of potential investments due to the dislocation in the credit markets, and are keen to maintain the strength of our balance sheet in order to take advantage of the opportunities."


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Notes to editors:

About the Order book for Retail Bonds (ORB):

The Order book for Retail Bonds (ORB) is the London Stock Exchange’s electronic platform for private investors trading fixed income securities. The ORB offers continuous, transparent, two-way tradable prices in around 150 individual UK gilts, supranational and corporate bonds, all tradable in typical denominations of £1,000 or less. Introduced in February 2010 in response to strong demand from private investors, it offers issuers a high profile route to raise debt capital from a retail audience.

About London Stock Exchange Group:

London Stock Exchange Group (LSE.L) sits at the heart of the world’s financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, offering UK and Russian derivatives trading, pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe’s capital markets.

The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world access and an extensive range of real-time and reference data products and market-leading post-trade services. The Group is also home to a world leading index provider FTSE, which creates and manages of over 200,000 equity, bond and alternative asset class indices.

Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1,850 people.

Further information on London Stock Exchange Group can be found at www.londonstockexchangegroup.com