John Lewis raises £50m in bonds
Saturday 19 March 2011
John Lewis Partnership, the group behind the eponymous department store and grocer Waitrose, has reached its target of raising £50m through a bond issue more than three weeks ahead of its final deadline.
JLP opened subscriptions to the corporate bond to its qualifying 1.5 million account card and partnership card customers on 7 March, and set a cut-off of the evening of 11 April.
The bond offered a fixed annual income of 4.5 per cent in cash, with a further 2 per cent in the form of gift vouchers. Charlie Mayfield, the chairman of JLP, said: "The reaction of our cardholders and partners [staff] has been extremely encouraging. To have reached £50m of subscriptions in less than two weeks after launch shows that our customers and partners valued a mix of gift vouchers and cash return totalling 6.5 per cent."
Meanwhile, John Lewis said that its sales dipped by 1.8 per cent to £52.2m in the week to 12 March, although the same period last year included Mother's Day. Following a storming 2010, the retailer's performance has been more subdued this year.
- 1 East 17 bandmember Brian Harvey in 'very desperate situation’
- 2 Is this bridge haunted by the ghost of nu rave?
- 3 Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
- 4 The West has it totally wrong on Lee Kuan Yew
- 5 Scientists have discovered a simple way to cook rice that dramatically cuts the calories
East 17 bandmember Brian Harvey in 'very desperate situation’
Vladimir Putin says Russia will fight for the right of Palestinians to their own state
Is this bridge haunted by the ghost of nu rave?
Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
Saudi Arabia says it won't rule out building nuclear weapons
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
David Cameron calls Labour 'hopeless, sneering socialists' while announcing 7-day NHS plans
The West has it totally wrong on Lee Kuan Yew
Revealed: Putin's army of pro-Kremlin bloggers
iJobs Money & Business
Negotiable: Recruitment Genius: To provide a prompt, friendly and efficient se...
Negotiable: Recruitment Genius: You will be the first point of contact for all...
£18000 - £24000 per annum + benefits: Ashdown Group: HR, Payroll & Benefits Of...
£35000 - £38000 per annum + benefits : Ashdown Group: A highly successful, int...