Asset Backed Bond – Prindiville
|Launch Date:||1st November 2016|
|Closing Date:||30th April 2017|
|Coupon:||7.5% per annum|
|First Interest Payment Date:||31st October 2017|
|Target Raise:||£12 million|
Prindiville is seeking to raise £12 million to source and purchase pre-owned luxury vehicles and ‘supercars’ which are typically highly sought after and limited in availability.
By utilising the experience in the luxury vehicle market, Prindiville intend to utilise their broad network of buyers, sellers, collectors and dealers around the world to acquire the vehicles at below market value for onward sale for gross profit margins averaging at least 13%. Vehicles of particular interest to the Company will be (but not limited to):
- Aston Martin
- Range Rover
You are invited to subscribe for Prindiville Asset Backed Bonds which will mature on the fifth anniversary of the Closing Date. In return, the Company agrees to pay 7.5% per annum of the capital invested (payable semi-annually) and to return your capital upon maturity.
Bondholders who subscribe during the months prior to the Closing Date will receive a higher interest amount on the First Interest Payment Date.
The Company intends to service its payment obligations under the Asset-Backed Prindiville Bonds from the profits earned from the sale of its vehicle stock and income received from fees earned for its brokerage services, whereby cars are sold on behalf of clients in exchange for a fee.