Grafton abandons bond issue
Published: 10 July, 2013
Grafton Group has withdrawn its proposed issue of Sterling Retail Bonds, blaming interest rate volatility and market uncertainty during the offer period.
“This influenced investor sentiment and demand and the company decided not to proceed with the issue,” Grafton said in a recent statement. The proposed issue of Sterling Retail Bonds by Grafton’s wholly owned subsidiary Grafton Group Finance, offering a 5.5% annual return, was published on 24 June. Grafton’s dividend yield is 1.62%.