Britannic Asset Management sold out the £75m issue of guaranteed income shares offering 7%pa within ...
Britannic Asset Management sold out the £75m issue of guaranteed income shares offering 7%pa within four days of bringing the offer to market.
The shares, which are part of the group's Britannic UK Income Trust launched last Monday, were gone by last Thursday. Two thirds were sold through a limited number of large brokers including Hargreaves Lansdown, Chase de Vere and Chelsea.
The shares pay out quarterly and have a 100% capital guarantee provided by Britannic as it is confident the assets in the trust will be sufficient to cover the liabilities
The split capital trust itself will have 50% in FTSE 350 stocks, 20% in fixed interest and 30% in other splits.
A placing of £150m of ordinary shares and £45m of zero dividend preference shares is also underway.
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