Paragon Group of Companies launches six per cent bonds

13th Feb 2013 12:47

The Paragon Group of Companies, a specialist buy-to-let and consumer finance group, on Wednesday launched an offer of six per cent bonds due December 2020, marking the initial transaction under a one billion pound euro medium term note programme. The fixed interest of 6.0% will be payable semi-annually in arrears on March 5th and September 5th until September 5th 2020. The bonds have a minimum initial subscription amount of £2,000 and are available in multiples of £100 thereafter. Nigel Terrington, Chief Executive of Paragon, said: "The bonds will complement our already strong balance sheet, allow us to diversify our funding base and extend the tenor of our borrowings. "We have operated in the UK markets for over 25 years with a business model that kept us profitable throughout the recent credit crunch. We continue to see strong growth opportunities in the markets in which we operate."The share price rose 0.64% to 299.80p by 13:00. NR