Stobart Group rules out bond issue for now
Last updated at 11:38, Wednesday, 28 November 2012
Stobart Group has decided against issuing a bond to raise £25 million – although its board has not ruled out an offering in future.
The company said it decided not to proceed following the entry of larger bond issuers at higher coupon pricing.
Stobart chief financial officer Ben Whawell said: "We will keep under review the possibility of issuing a retail bond in the future, as we see it as a potential attractive funding option, but only when we feel the cost of the bond to the company, its attractiveness to investors and its liquidity characteristics are in the right alignment.”
The company wanted to raise the funds to finance further diversification. The £100 bonds were due to have given a 5.5 per cent return on face value, with capital repayable in 2018.
First published at 11:35, Wednesday, 28 November 2012
Published by http://www.newsandstar.co.uk
More Business
Have your say
- Cumbria police pledge crackdown on illegal sale of weapons (1 comment)
- September decision on whether Americans will continue to run Sellafield (2 comments)
- 28 new housing sites in Carlisle unveiled (12 comments)
- National restaurant company eyeing Carlisle's Hoopers building (19 comments)
- Hope buyer can be found for Carlisle pub (7 comments)
- Families asked to scatter ashes on Lake District fells - not leave boxes (2 comments)
- Allerdale needs 200 affordable homes a year to help first time buyers (12 comments)
- Plans to cut speed limit on Carlisle road to 40mph (27 comments)
- Cumbria police used bus full of children as roadblock to stop car (57 comments)
- Anger as new homes approved despite 300 objections (42 comments)
Court & crime
Anne Pickles
Vote
Search for:
| NEWS & STAR ON: | |
 |
 |
 |
 |
Quick links
- Police appeal after taxi driver attacked and robbed
- Police appeal after girl, 10, says she was touched by man on street
- Carlisle residents' anger at mess left behind by travellers
- Former Cumbrian couple hurt in Boston marathon bomb blast leave hospital
- Man admits 33 sex offences, including three rapes
- National restaurant company eyeing Carlisle's Hoopers building (19 comments)
- 28 new housing sites in Carlisle unveiled (12 comments)
- Allerdale needs 200 affordable homes a year to help first time buyers (12 comments)
- Gangs in Carlisle scouring rubbish bags for bank details - claim (11 comments)
- Cumbria police used bus full of children as roadblock to stop car (57 comments)
- Cumbria police used bus full of children as roadblock to stop car (57 comments)
- Anger as new homes approved despite 300 objections (42 comments)
- Trade chairman against Cumbria's summer road closures plan (39 comments)
- Carlisle city centre clothes shop closing down (33 comments)
- Hoopers store in Carlisle bought 'by mistake' at auction (32 comments)
