St Modwen Properties has raised a total of GBP80m from its debut retail bond.

As per the terms and conditions of the offer set out in the prospectus, the offer period commenced on 17 October and closed on 31 October.

Bill Oliver, chief executive of St. Modwen, says: “We are very pleased to announce the successful closure of our first retail bond. We believe that the positive response from investors demonstrates the strengths of St. Modwen and its consistent income generation. We are delighted to have successfully accessed a new source of finance and diversified our debt financing profile.”