04 September 2012
Travers Smith advises CLS Holdings plc on the issue of its £65 million 5.5 per cent. Retail Bond due 2019
A team from Travers Smith led by head of corporate finance Spencer Summerfield and finance partner Matthew Ayre advised CLS Holdings plc on the issue of its £65 million 5.5 per cent. Retail Bond due 2019.
CLS Holdings plc is a multi-national property investment company which has been listed on the London Stock Exchange since 1994. It has a portfolio of investments across London, Sweden, France and Germany valued at £920.4 million.
Since the introduction in 2010 of the London Stock Exchange's Order book for Retail Bonds, over £2 billion has been raised on the market through the issue of 24 dedicated retail bonds and 4 further taps. The issue by CLS Holdings plc was the seventh this year and closed early with an increased issue size on the back of investor demand which exceeded the original target by 40 per cent.
Canaccord Genuity acted as financial adviser to CLS Holdings plc and was advised by Linklaters, led by capital markets partner Elaine Keats. The Travers Smith team also comprised corporate senior associate Athene Blakeman and finance senior associates Danny Peel and Jonathan Gilmour.