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UK online hotel guide and travel club Mr & Mrs Smith is launching its first retail bond.
The four-year Smith bond will pay a fixed rate of 7.5 per cent twice yearly with an option for bondholders to receive their interest in “loyalty money”, which can be used toward bookings at any of the 900-plus boutique hotels listed on the site.
Opting for this choice will boost the investor’s return by a two per cent, giving an annual rate of interest of 9.5 per cent.
Chief executive and co-founder James Lohan (pictured) said he is looking to generate £5 million and develop a family of sister brands.
“The brand is mature enough now, we are known in the UK and Europe, but to really build a global platform, that needs a bit more money,” he said.
Minimum investment is £1,000 and there is no upper limit. Applications can be submitted from April 29 until June 27 at www.mrandmrssmith.com/smithbonds
30/04/12
