THE
BOND
Propifi Bonds Plc, 2028 bond is a high-yield debt instrument that is bankruptcy remote and offers investors fixed returns paid on a quarterly basis. The bond is asset backed by UK property or land.
Propifi issue legal first charge secured bridging loans to commercial UK property developers, with specific focus on the UK’s social housing arena. A market which has a growing demand and significant under supply - currently a deficit of around 35% (January 2023).
Lending decisions are made at Senior Management Level and are usually based on a "closed bridge" strategy, where the end user is identified before granting the loan. In most cases the end user is currently the tenants of the UK’s Ministry of Housing, Communities and Local Government. Propifi currently have a pipeline of bridging/development finance opportunities of more than £230m (January 2023).
BOND INFORMATION
Bond
Propifi Bonds PLC
Maturity
January 2028
Issue Size
Up to GBP £5B - £300M Series
Listing
Boerse Frankfurt
Coupon Payments
Paid quarterly
Period 1 – 1/4/23 to 31/3/24
Coupon Paid at 10.1%
Period 2 – 1/4/24 to 31/3 25
Coupon Paid at 9.1%
Period 3 - 1/4/25 to Maturity Date 10/1/28
Coupon Paid at 8.1%
Status
Senior Secured Debt under English Law
ISIN GBP
GB00BMFXJ441
ISIN USD
GB00BMFXJ557
ISIN EUR
GB00BMFXJ334
Liquidity
Traded daily and Freely Transferable
Eligibility
UCITS, SIPP, SSAS, QROPS,
Portfolio Bonds and Investment Platforms
Clearing/Settlement
Crest/Euroclear
Rating
Investment Grade A- (stable outlook)
INVESTMENT STRUCTURE
DOWNLOADS
Pricing supplement for 2020-F1 GBP secured 8.1% notes due 2025 (GB00BLB0B914)
Pricing supplement for 2020-F1 USD secured 8.1% notes due 2025 (GB00BKPRZZ59)
Pricing supplement for 2021-F1 EUR secured 8.1% notes due 2026 (GB00BNC5TT55)
Pricing supplement for 2022-F1 GBP secured 8.1% notes due 2028 (GB00BMFXJ441)
Pricing supplement for 2022-F1 USD secured 8.1% notes due 2028 (GB00BMFXJ557)
Pricing supplement for 2022-F1 EUR secured 8.1% notes due 2028 (GB00BMFXJ334)
Find out more about our corporate bond