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Annington's dual-tranche bond issue

Numis acts as Debt Adviser on Annington’s dual-tranche bond issue.

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Numis is proud to have supported Annington – one of the UK’s largest providers of privately-rented housing with an asset value of £8.4bn – on its £800m dual-tranche bond issue.
Numis advised Annington on its issue of £800m of new investment grade bonds, split equally between 11-year and 30-year tranches. This transaction follows our role advising Annington on its £500m 5-year loan refinancing in March 2020, with our focus this time on the optimal strategy for credit rating agencies, bookrunner selection, lender communication, and market execution and pricing.

“We are proud to have reprised our previous roles to enable Annington to achieve a superb outcome in the debt capital markets. We were able to provide strategic advice on credit rating agencies and executing public bond market deals at a time of volatility in the wider bond markets”

Mike Beadle Managing Director, Investment Banking

“The Numis team’s experience across debt markets and deep understanding of Annington’s financing structure enabled their perceptive advice on how best to achieve our financing objectives”.

Stephen Leung CFO, Annington

The deal team at Numis was led by Mike Beadle, alongside Robyn Hawkins and James Pike.
Numis’ debt advisory service provides independent and expert advice to help companies achieve the best terms on public and private debt from the most supportive lenders.

For further information, please contact your Numis representative.

Investment Banking