Grant Thornton advises Golfbreaks Limited Golfbreaks Limited has issued of an unlisted retail bond

July 2014
Golfbreaks Limited
Adviser to Golfbreaks Limited on their issue of an unlisted retail bond
Grant Thornton team
Travel, tourism and leisure
Public company transactions
Flag of the United Kingdom

We are delighted to have advised Golfbreaks Limited on the development and issue of its 'Golfbreaks Bond' offer.

The bond issue included a choice of two unlisted retail corporate mini bonds, each having an initial four-year term. 

The company successfully raised a total of £2.9 million, far exceeding its initial target fundraise of £2 million, from its membership base of golfing enthusiasts. 

They plan to invest the funds in continuing to build their presence in the US market, make investments in new technologies and IT infrastructure, and expand the brand. 

The two bonds included "The Cash Bond", which offered interest of 7.5% (gross) per annum, payable in cash and "The Breakpoints Bond", which offered interest of 10% (gross) per annum payable in points in the company's Breakpoints customer rewards programme, which can be redeemed against golf holidays, tee times and/or spa breaks via, and respectively. 

This type of financing is being used more and more frequently by companies looking for a diversification of financing facilities. It also works well for companies with a strong brand and/or a large membership or subscriber base as it enables the company to engage with the members whilst enabling the investors to participate in the growth and development of the company.