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FTSE 250 entrant Workspace seeks up to £75m with bonds
LONDON property firm Workspace Group yesterday announced plans to tap the retail bond market for between £50m and £75m with the launch of a seven-year sterling bond for retail investors.
The firm, promoted to the FTSE 250 last week, said it would offer the bonds in a bid to help diversify its funding streams.
The sterling denominated bonds will pay a fixed rate of interest of six per cent twice a year in April and October and will mature in 2019.
Workspace chief executive Jamie Hopkins said: “Workspace is seeking to diversify its source of funding and we believe that a retail bond offers an opportunity for the company to achieve this.”