Urban Exposure launches £500m loan note

Urban Exposure is seeking up to £500m in a programme of fundraises for UK residential developers. The AIM-listed residential developer and asset manager has launched a bond offering available to retail investors to fuel its development lending. The seven-year bonds will bear a fixed rate of interest of 6.5% per annum, payable semi-annually in arrears in equal instalments. There will be multiple raises expected with a benchmark transaction north of £50m. The bonds are expected to be listed on the London Stock Exchange and the current offer period will close on 30 July 2019. Chief executive, Randeesh Sandhu, said: “We