Rhino Announces Mini Bond Initiative

Rugby equipment and ball supplier, Rhino Rugby, has launched a mini-bond initiative paying 7.5% interest.

The bond, which will be repaid in five years’ time, will pay interest twice a year with a minimum investment of £2,000.

The brand follows a similar move by Premiership side Wasps RFC who issued a retail bond to fund their expansion plans in May, raising £35m by offering savers 6.5% interest. The retail bond approach was also used by The Jockey Club in 2013, when it raised over £25m towards the redevelopment of Cheltenham Racecourse. 

Rhino, an official supplier to the likes of British & Irish Lions, England Rugby, The Welsh Rugby Union and the Guinness PRO12 league, is seeking to raise £2m from lenders to fund the further expansion of the brand and consolidate its financial position.

Aside from the 7.5% coupon bondholders will also receive a commemorative rugby ball, access to special offers on products from Rhino’s range and tickets for Guinness PRO12 matches.

Rhino chief executive Reg Clark commented: “We have monitored this sector closely for some time, and it seems to us that a buoyant market for retail bonds and a surge in interest in rugby generally is the perfect backdrop for us to seek expansion finance.

“Since taking control of Rhino in late 2006 the current management team have expanded the brand both geographically and product wise extremely aggressively and we are being offered some very interesting further opportunities going ahead which we would like to be able to exploit.”

The offer period goes through to 1pm on 18th September.