Stobart eyes £25m bond

David Hellier
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STOBART, the transport and infrastructure group, is considering the launch of a retail bond to raise around £25m.

The terms of the issue have yet to be finalised and, according to informed market sources, the issue might yet be pulled over a disagreement over the rate of interest Canaccord is suggesting the group pays for its money. Canaccord is advising on the deal.

The bond issue, which would carry with it a coupon of five per cent or more, would allow Stobart to retire some of its existing bank loans from and keep its average interest rate around five per cent.