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Peer2Peer Finance News | August 17, 2017

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LendInvest closes retail bond offer early

LendInvest closes retail bond offer early
Suzie Neuwirth

LENDINVEST has closed its bond offer early, due to strong demand from both retail and institutional investors.

The online mortgage lender launched the five-year notes on 19 July and the offer was scheduled to close at noon on Friday. However, it closed the offer at 11.30am on Thursday.

It said estimated net proceeds from the offer would be just under £49m and confirmed that the issue date will be 10 August.

“We are very pleased to have been able to close the book early for our retail bond offer, the first in a programme of future issues over the next few years,” said Christian Faes (pictured), co-founder and chief-executive of LendInvest.

“The demand for the bonds by both retail investors and some of the City’s largest institutions confirms the depth and breadth of investor appetite for secured, income-generating investment options from established origination platforms like LendInvest.”

LendInvest closed its online platform to retail investors in May, so the bond offering opened up its property investment opportunities to individuals again.

Read more: LendInvest cancels application for P2P authorisation

The facility was issued by LendInvest’s wholly-owned subsidiary LendInvest Secured Income, which is listed on the London Stock Exchange.

AJ Bell Securities, Equiniti Financial Services and Redmayne-Bentley were authorised to offer the bonds to their customers, with a minimum subscription of £2,000, alongside Barclays Bank, Alliance Trust Savings, Interactive Investor Trading and Syndicate Room.

This was the first time that online investment platform Syndicate Room had offered a retail bond to its members.