Bond of the week: CLS Holdings steals a march

Filed under: Featured Bond & Fixed Income Analysis |

The jet stream moves North and the dog days of summer finally lie languid and warm. Your bond correspondent stupefied by a long period of inertia slouches in a deck check and cogitates upon the garden. Suddenly the holiday inactivity in the retail bond market is broken as CLS Holdings steals a march on the expected flurry of new issues in September; your correspondent is forced to pick up his pen and we have the following:

Issuer:                       CLS Holding PLC
Coupon:                    5.5% semi annual
Denominations:     £100
Minimum Sub:        £2,000
Maturity:                  31st December 2019
ISIN:                          XS0820711215
Listing:                      London (ORB)
Status:                       Senior unsecured
Bookrunner:          Canaccord Genuity (Collins Stewart)
Closing date:         4th September (or earlier)

This is the first retail bond issue lead by Canacord Genuity who have recently built up a strong team in this area. Good luck to them.

Let us first look at the company. CLS, a property investment company (not a REIT) listed on the London Stock Exchange since 1994, holds a portfolio of commercial real estate in the UK and Northern Europe. Run by Swede Sten Mortstedt who controls a majority stake (55%), the company has an impressive track record. Some 40% of the property portfolio was sold before the 2008 crash and on a four year basis the shares have outperformed all others in their sector.

Get the full story on Fixed Income Investor


The guide to the Sterling bonds markets for the private investor.

More Posts - Website

Risk warning

Risk Warning:, Stockcube Research Ltd and partners provide this content for information purposes only. It should not be relied upon or taken as trading advice in any way. Always seek independent financial advice before speculating on traded products. When dealing in contingent liability products, CFD, Contract for Difference or spreadbetting on margin you should be aware that is it possible to lose a larger amount than your initial deposit. and Stockcube Research Ltd do not accept any liability for any losses, as our research is not intended to be solely relied upon or used in such way.

You must be logged in to post a comment Login