Progress to Excellence Group, an education and apprenticeship training provider, aimed to raise between £500,000 - £750,000 via UK Bond Network to support its growth plans.
From its origins in the North-West, The Progress to Excellence Group (P to E) has expanded to become a national provider, working with a wide range of national organisations to provide training and education for young people, predominantly those who struggle in mainstream education.
Progress to Excellence reached their funding requirement within the two week auction period, generating £750,000 and returning 12% gross per annum over a 3-year term to investors.
With our 15-year track record and strong financial position supported by government contracts, the management team has the skills, experience and commitment to continue our organic growth and capitalise on acquisition opportunities as they may arise.SANDRA KIRKHAM, GROUP MANAGING DIRECTOR, PROGRESS TO EXCELLENCE
Key auction statistics & Headline terms
Average bid size
Interest rate (gross per annum)
|Coupon||12% gross per annum|
|Repayment||Interest-only for the first year, amortising quarterly thereafter|
|Security||An all-assets debenture in favour of the Security Trustee from the Issuer and from each of the Guarantors and guarantees from all members of the Issuer's group|
Christopher Maule, chief executive and founder of UK Bond Network.
"Progress to Excellence Group is an established and profitable national business which is helping young people to gain important life skills and qualifications, all while rewarding its financial backers. Our debt funding model is ideal for facilitating acquisitions and the continued growth of P to E while providing investors with attractive returns in a low-interest economic climate."