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Ask Justin

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Where to buy St Modwen bonds?

Investment | Fixed Interest Helpful? 3

Asked by winger14, submitted 19 October 2012.

Open Quote Can you tell me how I can buy some of the bonds St Modwen are releasing that will pay 6.25% until 2019 please? I can't seem to find them on the share dealing web sites I use.End Quote

Answered by Justin on 22 October 2012

Post launch St Modwen Properties bonds are due to be listed on the London Stock Exchange via the order book for retail bonds, hence should be available via your usual brokers from 8 November 2012.

However, during the launch offer period (17 October - 31 October 2012) the bonds are only available via the following stockbrokers:

  • Barclays Stockbrokers Limited
  • Brewin Dolphin Limited (trading as Stocktrade)
  • Killik & Co LLP
  • Peel Hunt LLP
  • Redmayne-Bentley LLP
  • Talos Securities Limited (trading as Selftrade)
  • NCL Investments Limited (trading as Smith and Williamson Securities)
  • WH Ireland Limited

The main issue when buying from one of the above brokers (assuming you don't already use them) is that you'll own the bonds via their nominee account, which could incur a fee to transfer to another broker. If you wait and buy the bonds post launch with your existing broker you risk paying above the issue price if the bonds jump to a premium (although you may, of course, get them for less if the price falls).

Good luck.

Please note this answer does not constitute a recommendation or financial advice and should not be relied upon when making specific investment or other financial decisions. You should always undertake your own research into whether a product or service is appropriate for your needs and, if necessary, use a qualified professional adviser.

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