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Unite launches retail bond

Unite Group (UTG) has become the latest property company to launch a retail bond in a bid to reduce its reliance on banks. The student-housing provider is aiming to raise £50m-£75m of debt directly from private investors, who will receive an annual coupon of 6.125 per cent. The bonds will mature in June 2020, though like other retail bonds they will also be tradable on the London Stock Exchange's ORB market.

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By Stephen Wilmot,
21 November 2012

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