Update on Offer Size relating to the Notes

RNS Number : 1720Y

Paragon Group Of Companies PLC

21 January 2014

 



The Paragon Group of Companies PLC

21 January 2014



The information contained herein may only be released, published or distributed in the United Kingdom, Jersey, Guernsey and the Isle of Man 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, the Republic of Ireland, South Africa or in any other jurisdiction where it is unlawful to distribute this document. The bonds may only be sold in Jersey in compliance with the provisions of the Control of Borrowing (Jersey) Order 1958.

Any offer for subscription, sale or exchange of the bonds within the Isle of Man must be made (i) by an Isle of Man financial services licence holder licensed under section 7 of the Financial Services Act 2008 to do so or (ii) in accordance with any relevant exclusion contained within the Regulated Activities Order 2011 or exemption contained in the Financial Services (Exemptions) Regulations 2011.

21 January 2014

THE PARAGON GROUP OF COMPANIES PLC

ISSUE OF 6.125% UNSECURED STERLING RETAIL BONDS MATURING JANUARY 2022
(the "Notes")

Update on Offer Size relating to the Notes

Terms used herein shall have the meaning given to them in the Base Prospectus dated 11 February 2013 and the Supplemental Prospectus dated 8 January 2014 (together, the "Prospectus") and the Final Terms (the "Final Terms") dated 14 January 2014 relating to the Notes.

In accordance with the terms and conditions of the Offer set out in the Final Terms, the Offer Period relating to the Notes, which commenced on 14 January 2014, is scheduled to close at 5pm (London time) on 27 January 2014. The Issuer retains the right to close the offer early and at short notice, following consultation with the Lead Manager.

The aggregate nominal amount of the Notes to be issued will be at least £100 million.

-Ends-

For further information, please see Paragon's website:

http://www.paragon-group.co.uk/group/Retail-Bond

For enquiries please contact:

Paragon Nick Keen, Finance Director	0121 712 2060
Fishburn Paul Farrow Anna Moulds	020 7092 2302 020 7092 2238
Canaccord Genuity Adrian Bell Mark Glowrey	020 7523 8019

Notes to Editors

About The Paragon Group of Companies PLC

Paragon is a leading buy-to-let mortgage lender and specialist purchaser and servicer of loan assets, with £10 billion in loan assets under management. Since being established in 1985, it is the only specialist lender to maintain an independent position within the UK mortgage market.

The Group operates in two principal areas:

Lending: Buy-to-let specialist lending is provided to landlord customers through Paragon Mortgages and Mortgage Trust brands and the provision of consumer loans. In 1995, Paragon was the first lender to work with the private rented sector to develop the buy-to-let market and, in 2000, it became the only major UK mortgage lender to focus exclusively on buy-to-let products.

Portfolio acquisitions: the investment division of the Group, Idem Capital, undertakes acquisitions of loan portfolios, including first and second mortgages as well as unsecured assets. In addition, the Group services mortgage and loan portfolios for itself and for clients such as banks, private equity houses and specialist lenders.

Paragon is a pioneer in the use of securitisation in the UK mortgage market, launching the UK's first residential mortgage-backed securitisation in 1987. To date, the Group has issued 56 public securitisations, raising over £20 billion.

Authorised offerors

Barclays Stockbrokers	www.barclaysstockbrokers.co.uk/pages/paragon.aspx
Canaccord Genuity Wealth	www.canaccord.com/WM
Interactive Investor	www.iii.co.uk/investing/new-issues
Redmayne-Bentley	www.redmayne.co.uk/paragon
Selftrade	www.selftrade.co.uk/paragon
Smith & Williamson	www.smith.williamson.co.uk/fixed-income-dealing-service
Killik & Co	www.killik.com/bonds
Brown Shipley & Co	www.brownshipley.co.uk

About the bonds

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

2.   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.

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

Disclaimer

This announcement is an advertisement and is not a prospectus for the purposes of EU Directive 2003/71/EC, as amended, and/or Part VI of the Financial Services and Markets Act 2000 (the "FSMA"). A base prospectus dated 11 February 2013, as supplemented on 8 January 2014, (together, the "Prospectus") has been prepared and made available to the public as required by Part VI of the FSMA. Investors should not subscribe for any bonds referred to in this announcement except on the basis of information in the Prospectus. Full information on The Paragon Group of Companies PLC and the offer of the bonds is only available on the basis of the combination of the Prospectus, the Final Terms and this announcement which have been published by Paragon on the Regulatory News Service operated by the London Stock Exchange.

The restriction on financial promotions contained in section 21(1) of the Financial Services and Markets Act 2000 does not apply to this announcement by virtue of article 70(1A) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended.

The offering and the distribution of this announcement and other information in connection with any offer in certain jurisdictions may be restricted by law and persons into whose possession this announcement or 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 purchase of bonds pursuant to any offer should only be made on the basis of the information contained in the Prospectus, available as described above.

The bonds have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). Subject to certain exceptions, the bonds may not be offered, sold or delivered within the United States or to, or for the account or benefit of U.S. persons. The bonds are being offered and sold outside of the United States in reliance on Regulation S of the Securities Act. There will be no public offering in the United States.

 

END

 

 

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