Alpha Plus and UNITE closed retail bond offers this month, raising capital at the top end of, or above, their target ranges. UNITE raised £90m at the closing of its 7.5-year, unsecured bond, which pays 6.125%, after going to the market on 21 November seeking between £50m and £75m.
Delancey-managed Alpha Plus raised £48.5m at the closing of a seven-year, 5.75% secured bond. Alpha Plus’s was the first issue with security – £84m of central London schools – and the first by a privately-held, unrated company. There have now been six property-linked issues since July, raising £416m in total.