Paragon’s debut bond raises £60m
The group’s first retail bond raised a total of £60m following a positive reception from investors after its launch earlier this month. The bond closed four days early after raising over and above original expectations.
John Heron, director of mortgages, said: “This is the group’s first retail bond and the first of a planned ongoing programme. We are delighted with the success of our debut retail bond and the additional funding stream it will secure.
“The interest the bond generated demonstrates the attractiveness of Paragon and we are very pleased with its initial success. This year will be another interesting one for the Group as a whole as we continue to grow our buy-to-let business through our Paragon Mortgages and Mortgage Trust brands.”