Stobart to sell retail bond

13th Nov 2012 07:55

Stobart, the nation's best known trucking company, has entered the savings market with the launch of a retail bond.The company is offering a 5.50% per annum fixed rate six year Sterling bond, available from Tuesday.It did not say the total amount it intends to raise through the offer.The bond can can be bought and sold in multiples of £100 face value, with a minimum investment of £2,000. The fixed rate interest will be paid in half-yearly instalments and the offer is expected to remain open until 27th November 2012 but may close earlier, the firm said.Stobart Chief Financial Officer, Ben Whawell, said the launch followed a successful UK road show to test market conditions for a retail bond issue. "We enter the market on the back of significant expansion of the group, with developments in our air, biomass and estates divisions now delivering results and bringing benefits across the business," he said.