Venn Partners’ £265 Million Notes Offering


Macfarlanes has advised Venn Partners LLP, PRS Operations Limited and PRS Finance plc in their capacities as manager, licensee and issuer respectively in the issuance of £265m 1.75% bonds pursuant to the bond programme established in July 2015.

The bonds have been admitted to trading on the London Stock Exchange.

The proceeds of the bonds will be applied towards the delivery of purpose-built and professionally managed private rented developments in the United Kingdom, in accordance with the Private Rented Housing Guarantee Scheme, which asset manager Venn was appointed to establish and manage by the Secretary of State for the Department for Communities and Local Government in December 2014.

Finance partner Richard Fletcher (Picture) led the team which also included tax senior counsel Hilary Barclay and finance solicitor Pooja Jain.

Involved fees earner: Richard Fletcher – Macfarlanes LLP; Pooja Jain – Macfarlanes LLP; Hilary Barclay – Macfarlanes LLP;

Law Firms: Macfarlanes LLP;

Clients: Venn Partners LLP;

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