Student housing developer turns to convertible bonds

The first convertible bond deal for Unite follows a rise of more than 40% in the property group's share price in the last 12 months

Student housing developer Unite is issuing £90 million in convertible bonds, tapping the debt capital markets to help finance new projects and continuing a trend among European property firms turning to convertible bonds.

The notes mature in 2018 and are being issued following a strong year for Unite's share price, which has risen more than 40% in the last 12 months. It is Unite's first convertible bond.

WSJ Logo
Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With TrumpExternal link

Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With Trump