New Bond Issue: Bruntwood 6% 2025
This is an advertisement and not a prospectus. You should not subscribe for the bond issue described below except on the basis of information in the Prospectus and the Final Terms, which can be accessed via the links below.
Bruntwood, a privately owned property investment, development and management company, is issuing an unsecured bond, maturing on 25 February 2025. The company is a leading provider of office space, laboratories, meeting rooms and retail premises, catering for companies across a range of different business sectors. The group operates 110 buildings across four key markets: Manchester, Liverpool, Leeds and Birmingham. The company, who’s focus is to create thriving cities, operates a ‘landlord’ business model across two divisions: Bruntwood Works and Bruntwood Scitech. Bruntwood Works focuses on the creation of innovative and socially responsible workspaces where connections have already been made, whilst Bruntwood Scitech, a 50/50 joint venture with L&G Capital, focuses on creating a network of new, thriving innovation districts.
The bonds, which will not be rated by any of the credit rating agencies, offer an interest rate of 6% per annum, which will be paid in two equal instalments a year on 25 February and 25 August, starting on 25 August 2020. The bond does not have to be held until maturity and you can buy or sell the bond at any time during its life, should you wish to do so. The bond is eligible for inclusion in an ISA or a SIPP. The minimum initial investment is £2,000 with incremental denominations of £100 thereafter. The offer is available to clients in the United Kingdom and the Republic of Ireland only.
“We, Killik & Co, refer to the offer of 6.00 per cent. Bonds due 25 February 2025 (the “Bonds”) described in the Exchange Offer Memorandum and Prospectus dated 28 January 2020 (the “Exchange Offer Memorandum and Prospectus”) published by Bruntwood Bond 2 plc (the “Issuer”). In consideration of the Issuer and the Guarantors named in the Exchange Offer Memorandum and Prospectus offering to grant their consent to our use of the Exchange Offer Memorandum and Prospectus in connection with the offer of the Bonds in the United Kingdom/Ireland during the Offer Period in accordance with the Authorised Offeror Terms (as specified in the Exchange Offer Memorandum and Prospectus), we hereby accept the offer by the Issuer and the Guarantors. We confirm that we are authorised under MiFID II to make, and are using the Exchange Offer Memorandum and Prospectus in connection with, the Public Offer accordingly. Terms used in this paragraph and otherwise not defined shall have the same meaning as given to such terms in the Exchange Offer Memorandum and Prospectus.”
The documents relating to the issue, which should be read before investing can be found below.
If you have any interest in this issue, please speak to your Broker. If you are new to Killik & Co and have any interest in this issue, please call 020 7337 0777 for more information.
Please ensure you understand the risk of investing in corporate bonds in general and that you have fully assessed the risks of this particular bond before making a decision to invest.
Risk warning: Note that as with all investments there are risks involved in investing in corporate bonds. This includes the risk that the issuer may default. As a consequence you may get back less than you invest or lose your initial investment. Other factors which may affect the price of the bonds include, but are not limited to, the level of inflation, length of time until maturity, issuer’s financial position, demand for the bonds, and interest rates. Note that if interest rates start to rise then the amount of interest due to be paid on the bonds might become less attractive and as a consequence the price of the bonds could fall. Bonds are negotiable and consequently prices will fluctuate from issue until redemption at par (100). For some bonds the secondary market liquidity may be quite thin and the spread between the buying (offer) and selling (bid) price may be quite wide. Note that, unlike a bank deposit, a corporate bond is not covered by the Financial Services Compensation Scheme (FSCS).