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Providence launches second mini bond paying 7.5 per cent

Kit Klarenberg
Written By:
Kit Klarenberg
Posted:
Updated:
17/06/2015

Providence Global, the UK arm of financial services provider Providence, has launched a second mini bond paying 7.5 per cent interest annually.

The Mini Bond, which has a minimum investment requirement of £1,000, is on offer from 19 June. Interest will be paid every three months, with the full investment repaid at the end of the four year term.

The launch follows the closure of the first Providence Bond issued in February 2015, which raised over £5m from more than 500 investors.  The first interest payment was made to bond holders on 31 March 2015.

“We are in the process of building our reputation with the investing British public,” said James Vinall director of investor relations at Providence Global.

“We want to build something that lasts for generations, based on strong partnerships with our factoring clients and our investors.”

The Providence bond is not covered by the Financial Services Compensation Scheme.

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