Alternative finance specialists, Propifi Bonds PLC, has firmly cemented its repayment track record with the redemption of its 8.1% unlisted bond.
Specialists in issuing legally secured first-charge bridging loans to commercial property developers, Propifi is committed to driving the development of the social housing, assisted living and retirement industries throughout the UK.
The first series of its Senior Secured Bond Program, the unlisted bond officially matures on 30th November 2024 following a five-year term, where its growing network of high-net-worth and sophisticated investors have benefitted from an 8.1% return.
Aside from demonstrating robust financial performance in meeting all coupon payments in full and on time, the redemption marks the conclusion of a successful first issuance aimed at supporting much needed growth within the Social Housing in the UK, where approximately 1.29 million households are currently on waiting lists.
Building on this achievement, Propifi has since launched two additional bond series, both of which are Investment Grade and listed on the Boerse Frankfurt Stock Exchange. These subsequent series have further solidified the company’s reputation in the investment community, offering competitive returns while maintaining a track record of timely payments.
This latest announcement comes at an exciting time for Propifi, having unveiled plans to release an additional £170 million for investment in social housing over the next 12 months alone through its strategic partnerships with Nexus Housing Developments UK and Social Housing Gateway.
Craig Sheppard, CEO of Propifi Bonds PLC, confirmed: “Since launching the first series of our Senior Secured Bond Program, the Propifi team have worked hard to achieve sound financial management and operational success, while investing in the development and provision of quality, sustainable and affordable housing.
I am delighted to officially announce the redemption of our unlisted bond and can confirm that all bondholders will receive the full principal amount along with the final interest payment as scheduled.
We now look forward driving the success of our next two unlisted bonds, while delivering on our objective to drive substantial investment into the social housing sector.”
Headquartered in Coventry UK, the Gross Development Value (GDV) of sites funded through Propifi is forecast to exceed £500 million within the next 12 months alone.
