Unite Group launches retail bond

Unite Group, the UK’s biggest student accommodation provider, yesterday become the latest firm to launch a retail bond. With £2,000 as the minimum investment, the bond pays a coupon rate of 6.125 per cent and matures on 12 June 2020. The group aims to raise £50 to £75m from the bond to fund expansion. Investec advised Unite on the issuance. Tesco, St Modwen GSK and National Grid have all tapped the bond market this year.