St Modwen hopes to raise £100m from bond
18th October 2012
DEVELOPER St Modwen is attempting to diversify its funding sources through the release of a retail bond. The firm hopes to raise up to £100m.
The Birmingham regeneration specialist and listed company launched 6.25% sterling bonds due 2019. They are available to retail investors.
The firm has a UK property portfolio which is valued at £1.1bn, made up of 5,800 acres. The portfolio is split into income-producing investments, residential land and commercial land and development.
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