Offer to Close Noon 23rd February

RNS Number : 4329C

Orchard Funding Group PLC

22 February 2022

 

This is an advertisement and not a prospectus.

The information contained herein may only be released, published or distributed in the United Kingdom, the Isle of Man, Jersey and the Bailiwick of Guernsey in accordance with applicable regulatory requirements. The information contained herein is not for release, publication or distribution in or into the United States, Australia, Canada, Japan, South Africa, the Republic of Ireland or in any other jurisdiction where it is unlawful to distribute this document.

MiFID II and UK MiFIR retail investors, professional investors and ECPs target market  - Manufacturer target market (MIFID II and UK MiFIR product governance) is eligible counterparties and professional clients (all distribution channels) and also retail clients (all distribution channels).

22 February 2022

ORCHARD FUNDING GROUP PLC

OFFER TO CLOSE NOON WEDNESDAY 23^RD FEBRUARY

ORCHARD BOND FINANCE PLC 6.25% BONDS DUE 2027

AIM-listed Orchard Funding Group PLC (the "Company") (AIM: ORCH) today confirms that the offer of the 6.25% Bonds due 2027 (the "Bonds") by Orchard Bond Finance PLC (the "Issuer"), a wholly-owned subsidiary of the Company, will close as planned at noon on 23 February 2022 (the "End of Offer Date").

The Bonds

The Bonds are available to wholesale and retail investors and will pay fixed rate of interest at 6.25% per annum to maturity, payable twice yearly on 2 December and 2 June, with the first coupon payment being made on 2 December 2022. The Bonds will mature on 2 June 2027. The Bonds will be freely transferrable and are expected to be listed on the FCA's Official List and admitted to trading on the London Stock Exchange's regulated market and through the electronic Order Book for Fixed Income Securities. 

A number of authorised offerors (listed below) have been given consent by the Issuer to provide the Prospectus and Information Booklet to potential investors in the Bonds until the End of Offer Date. The Bonds have a minimum initial subscription amount of £2,000 and are available in multiples of £100 thereafter.

Authorised Offerors:

· AJ Bell Youinvest

· Arnold Stansby & Co.

· Cannacord Genuity (Billing & Delivery)

· Equiniti

· Guy Butler

· Hedley & Co.

· Interactive Investor

· iDealing.com

· PrimaryBid

Convexity Capital is acting as Lead Manager (the "Lead Manager") on the issue.  All institutional investor enquiries should be addressed to Convexity Capital on 0207 058 0090.  All retail enquiries should be directed to an Authorised Offeror.

For further information about the Issuer and the Orchard Group, please go to  www.orchardfundinggroupplc.com

__________

-ENDS-

In the first instance, please direct press and institutional investor enquiries at:

Michael Smith, CFA (Convexity Capital)

[e-mail]

0207 058 0090 / 07557 265266

Ravi Takhar, CEO of Orchard Funding Group PLC

01582 346291

Liberum Capital (Nominated Adviser and Broker)

Neil Patel / Lauren Kettle

020 3100 2222

About Convexity Capital

Michael Smith leads Convexity's retail, listed and tradable debt capital markets business.  Michael has led numerous retail bonds for established FTSE listed companies and private debut issuers since the London Stock Exchange established the retail bond market in 2011.

Convexity Capital is a specialist capital markets business with a focus on growth companies and debut issuers that want to raise capital in the UK's debt capital markets.   

Convexity Capital is a trading name of Strata Global Limited which is authorised and regulated by the Financial Conduct Authority (FRN: 563834) and is incorporated in England and Wales with Companies House number: 07707508.

Important Information

The Bonds may not be suitable for all investors. Investors should ensure they fully understand the risks and seek independent financial advice.

Investors should note that the market price of the Bonds can rise and fall during the life of the investment and the price of the Bonds could fall below the issue price of £100.

In the event that the Issuer or the parent of the Issuer becomes insolvent or goes out of business, investors may lose some or all of their investment.

A prospectus dated 9 February 2022 (the "Prospectus") relating to the Bonds has been prepared and made available to the public in accordance with the UK Prospectus Regulation.

The Prospectus is available on the website of Orchard Funding Group PLC (please see www.orchardfundinggroupplc.com/bonds).

The Prospectus has been approved by the Financial Conduct Authority (the "FCA"). The FCA only approves the Prospectus as meeting the standards of completeness, comprehensibility and consistency imposed by the Prospectus Regulation. Such approval should not be considered as an endorsement of Orchard Bond Finance PLC or the quality of the Bonds that are the subject of the Prospectus.

Potential investors should read the Prospectus before making an investment decision in order to fully understand the potential risks and rewards associated with the decision to invest in the Bonds that are the subject of the Prospectus. Investors should not subscribe for any bonds referred to in this announcement except on the basis of information in the Prospectus.

This announcement is issued and approved by Orchard Bond Finance plc (formerly CRM Associated Limited) which is authorised and regulated by the FCA with firm reference number 733619.

The offering and the distribution of this announcement and other information in connection with the offer in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase any Bonds. Any purchase of Bonds pursuant to the offer should only be made on the basis of the information contained in the Prospectus.

The Bonds have not been and will not be registered under the United States Securities Act of 1933 (as amended, the "Securities Act") and, subject to certain exceptions, may not be offered or sold within the United States or to United States persons. The Bonds are being offered and sold outside of the United States in reliance on Regulation S of the Securities Act.

 

END

 

 

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