Introducing Propifi Bonds PLC

---

Stockbrook Capital is a global, multi-asset introducing broker (IB) that has been appointed by Propifi Bonds PLC to market and introduce its bond offering to appropriate investors, subject to regulatory compliance and thorough due diligence checks to ensure suitability.

As an introducing broker, Stockbrook Capital helps clients navigate the financial markets and provides access to a range of investment opportunities. We may also offer research, analysis, and other support services to help clients make informed investment decisions.

Propifi Bonds PLC, on the other hand, is a leading bridge finance lender that specialises in providing high-yield listed bonds to investors, with a focus on supporting the UK's social housing market. Their investment offering is designed to provide easy access to diversification options and attractive yields for investors. By utilising the capital raised from these bonds, they are able to support the development and maintenance of social housing, which has a positive impact on communities and families across the UK.

Together, Stockbrook Capital and Propifi Bonds PLC aim to provide investors with a comprehensive investment solution that combines the expertise of both firms with a focus on capital growth, income and ethical and mindful investing.

A bond is simply an IOU. The Collateral Manager(s) borrow investors money with a promise to pay it back at the end of the term of the Bond. Along the way, the Collateral Manager will pay a rate of interest (also known as the Coupon), in this case 10.1% / 9.1% / 8.1%. The Collateral Managers will use the investors money, until they have to pay it back, to grow their business and reach a level where they no longer need to borrow.

Junk Bonds are commonly 'disguised' as Minibonds, unsecured Loan-Notes, or BB-D rated bonds. They tend to be illiquid, usually unlisted, extremely high risk, and often have little to zero asset backing whatsoever, but tend to hide behind the guise of 'asset backed' in their marketing and promotion.

Investment Grade Listed Bonds on the contrary, are Senior Secured, Listed and Rated AAA-BBB, Freely Transferable to exit and sell on and categorised as Low Risk (default rates average 0.4%).

Yes, the bond has an Investment Grade A- rating from the external credit rating agency – Eurorating. Last updated in January 2024.

Bond Capital is secured by valid first-priority perfected security on specific pre-existing collateral, also referred to as Bankruptcy Remote. Senior secured means that specific collateral has been separated and set aside against the bond capital and legally sits under charge of an independent Security Trustee, completely separate to any Issuer/Company risk.

Propifi Investment Limited (PIL) uses the proceeds of bond subscriptions to make bridging loans. Before making a bridging loan, PIL takes security over the corresponding property, which becomes a financial collateral asset of PIL. Should the borrower default, PIL would enforce, liquidating the asset to cover the debt.
 

In the bond programme structure, it is important that noteholders are similarly protected, as they make loans to the Issuer in the form of subscriptions. To achieve this, noteholders' interests are represented by an independent trustee. On the behalf of noteholders, the trustee takes security over all the assets of the Issuer and all the relevant assets (the borrower loans and corresponding financial collateral assets described above) of PIL. Hence if the Issuer (Propifi Bonds plc) were to default on its obligations to noteholders, the trustee has both the authority and the means to liquidate the assets of both the Issuer and the assets of PIL (the bridging loans made and the collateral taken) to cover debt to noteholders.

Truva is an independent trustee representing the interests of the noteholders.

Truva is a group of companies that provide corporate trustee and corporate administration services for bond programmes to ensure that appropriate security is taken in the interests of noteholders.

The share capital of the Issuer is 100% owned by Truva Share Trustee Limited (TSTL). TSTL is entirely independent of Propifi. It is part of the Truva Group, all of which is owned by Truva Services Limited which is owned solely by its directors.

The bond coupon is paid quarterly (every 3 months). The Coupon Announcement is lodged with the London Stock Exchange each time coupon payments are made. https://www.londonstockexchange.com/news-article/market-news/31-march-2025-interest-payment-made-to-noteholders/16969554

The minimum investment is 100,000, available in GBP, USD and EUR.

The bond coupon is paid quarterly (every 3 months). The Coupon Announcement is lodged with the London Stock Exchange each time coupon payments are made.

​No, the coupons have been paid in full and on time since the first issuance in 2020.

The Propifi Bond has an A- Long Term Credit Rating and Eurorating (an independent agency) provided the report in May 2020 and more recently in April 2024.

Euan McAlpine and Craig Sheppard are the names behind the business. They have over 50 years of combined commercial lending and development experience at board level in private and Plc companies in the UK and Ireland Property markets.

Yes, Euan McAlpine sold the house building division of McAlpines to Wimpey for £500m. Rod Black redeemed £200m of bridging loans annually over a 10yr period for Catalyst securities (Zeus Capital). Craig Sheppard was part of the merger team that put Lloyds and TSB together.

Propifi has £75m of accepted indicative terms in the UK bridging market currently, with a potential £350m of development funding requirements beyond that over a 12-month period.

Propifi Bonds Plc are responsible for new bond issuances only and is not involved in the secondary market. Bonds are income-bearing investments that trade freely in the open markets. This sets them apart from other types of investments, such as bank certificates of deposit, which trigger a penalty for being sold early. Although you're able to sell a bond anytime if there's a willing buyer, many bondholders choose to wait until the bond matures to give it up, thus maximising their return on investment.

​

The Propifi Corporate Bond is listed on the Boerse Frankfurt Stock Exchange and as such, you can trade out of your 5 year investment early should you wish.

​

It is important to consider that when you sell your bond before the maturity date, you'll have to pay a broker fee for the service. This charge isn't strictly a penalty because it can vary from broker to broker. However, the effect is the same - you'll end up with less money if you sell your bond early, as it doesn't cost anything at all to let your bond mature.