LONDON - Propifi Bonds plc, an issuer of secured notes, has successfully completed the latest round of interest payments to its noteholders on December 31, 2024. The payments were made under the company's £5 billion medium-term note programme and included several series of notes denominated in GBP, USD, and EUR, all listed on the Frankfurt exchange.
The interest payments were part of a regular schedule that Propifi Bonds plc has maintained since the programme's inception in 2020. Notably, the company has a track record of full payment without any defaults, emphasizing its commitment to fulfilling its obligations to investors.
The notes, which vary in maturity dates from 2025 to 2028, have undergone changes in their interest rates over time. The most recent adjustment occurred in July 2023, with the rates for notes due in 2028 being revised. The rates were set at 8.1% from January 12 to March 31, 2023, increased to 10.1% for the period between April 1, 2023, and March 31, 2024, and will be adjusted to 9.1% from April 1, 2024, to March 31, 2025. Thereafter, the rate will return to 8.1% until the maturity date.
The proceeds from the investment in these notes are channeled to Propifi Capital Ltd, which specializes in providing secured first-charge bridging loans to commercial property developers in the UK. The focus of these loans is on markets with a significant supply shortage, such as assisted living, retirement, and social housing sectors.
Truva Corp acts as the trustee for the notes, offering its expertise in trustee and capital markets administrative services. This collaboration is part of Propifi Bonds plc's strategy to raise capital effectively and securely.
Investors and market watchers are informed that these interest payments and the company's regulatory announcements are documented and can be accessed through the Financial Conduct Authority's National Storage Mechanism. This ensures transparency and regulatory compliance in Propifi Bonds plc's financial communications.
The successful interest payment marks another milestone for Propifi Bonds plc as it continues to maintain a stable financial relationship with its investors. This information is based on a press release statement from the company.
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