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 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
Shock poll shows voters believe Ukip is to the left of the Tories
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
New era of cheap oil 'will destroy green revolution'
Ukip founder Alan Sked and Nigel Farage 'begged Enoch Powell to stand as a candidate'
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
iJobs Money & Business
£32000 - £35000 per annum + benefits: Ashdown Group: Marketing Services Manage...
£Neg. (DOE) + Excellent Benefits: Guru Careers: A Finance Account Manager with...
£40000 - £470000 per annum + bonus: Ashdown Group: Java Developer / J2EE Devel...
£45000 - £55000 per annum + Benefits: Ashdown Group: An exciting opportunity h...