Available through Wasp Finance, a vehicle set up to facilitate the action, the sterling-denominated bonds carry a gross annual interest rate of 6.5% until due on 13 May 2022. Interest is to be paid semi-annually on 13 November and 13 May of each year.
Wasps said that the bond is in order to restructure the debt accumulated in the group’s £30m purchase of the majority of the Ricoh Arena from Arena Coventry in October 2014, with the remainder bought from the Higgs Charity the following month.
Minimum initial investment in the bonds is £2,000 with subsequent multiples of £100, with the debt secured over Wasp Holdings and Arena Coventry.
The buying deadline is 5pm on 6 May 2015, with the bonds expected to be available for trade on the Order book for Retail Bonds of the London Stock Exchange from 14 May.
Wasps are currently sixth in the Aviva Premiership, having gathered 57 points from 20 matches and three wins in their past five games, leaving them three points off an automatic qualifying spot for the Champions Cup with two games left to play.
