First Sentinel Plc (NEX:FSEN), the alternative investment company focused on providing growth capital for public and private company investments, announced today that it has received applications from high net worth and family office investors and to allow investors more time to participate in the first tranche, it has extended the deadline for the issue of the first tranche of Bonds by approximately one week. Interest on the first tranche of Bonds will accrue from 28 February 2018.
The Company announced on 1 February that it intends to issue up to GBP4,000,000 sterling denominated 7.0% Secured Bonds due 28 February 2023, to be admitted to trading on the NEX Exchange Growth Market. The Bonds are redeemable each year, and at a 5% premium if held to maturity, and Bondholders’ interests will be partially protected by a credit insurance policy provided by Equinox Global, which will cover (subject to a GBP1 million aggregate cap per policy year) the risk of insolvency of certain underlying debtors of the Company’s subsidiary, Perennial Enterprise PTY Ltd. Accordingly, the Company published the Information Memorandum in connection with the Bonds, a copy of which is available from the Company’s website at www.first-sentinel.com.
The Company announced that it expects to issue the Bonds in tranches over the course of 2018 and intends to make an application for admission of the Bonds to trading on the NEX Exchange Growth Market (“Admission”). As at the date of this announcement, it is not known how many Bonds will be issued within the first tranche and issued on Admission. The Company will make a further regulatory news announcement once the number of Bonds is known and thereafter at the point of any further Bond issue(s).
About First Sentinel Plc
First Sentinel is an alternative investment company, registered with the FCA as a small authorised UK AIFM, which provides growth capital for public and private company investments. First Sentinel invests in a range of debt and equity instruments in target portfolio companies.
