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LendInvest debuts new retail bonds at 6.5% yield

CEO Rod Lockhart keeps the door open for retail investors.

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Rod Lockhart/LendInvest.

Property lender LendInvest has issued a new retail bond, which offers investors a fixed rate of 6.5 per cent.

LendInvest is marketing the bonds for both institutional and retail investors, with a minimum investment of only £1,000 and returns paid twice annually starting in February 2023.

“We are pleased to be coming back to the market for a third time following our two previous oversubscribed bonds,” said Rod Lockhart, chief executive of LendInvest.

“Our loans are all secured by property and at conservative loan-to-values, making this an attractive asset class to institutional and retail investors alike.”

While LendInvest moved away from targeting retail investors for the bulk of its property lending many years ago, it has always kept the door open to less sophisticated investors via its bond offerings.

LendInvest issued its first retail bond all the way back in 2017, paying 5.25 per cent, and followed up with a second bond in 2018 paying 5.37 per cent.

Given the due dates on both those bonds are coming up in 2022 and 2023, existing bondholders are being invited to exchange their holdings for the new bonds, which mature in 2027.

“Backed by an unparalleled 13-year track record, LendInvest continues to demonstrate strategic progress, resilience and strong financial performance,” added Lockhart.

“2021 was a landmark year for the business – becoming a public company, delivering our most profitable results to date and reaching £2.9bn funds under management.”

LendInvest expects its new bonds to be admitted to the London Stock Exchange’s main market in August and they will also be available via brokers like Hargreaves Lansdown, AJ Bell and PrimaryBid.

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