ThinCats borrower, Clearwell launches second bond with CODE Investing

Clearwell Capital Group is a growing business which specialises in providing funding to property developers. The business has borrowed £4.6m of senior secured debt via ThinCats and CODE Investing (16 loans and one bond issue), and has recently launched their latest bond with CODE – Clearwell Bond Two.

Clearwell Bond Two

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Since May 2013, Clearwell has provided £7.77m in finance to support the construction of 265 homes in 29 separate projects across the UK [1]. Of these projects, 13 are now complete, with development works completed on a further three totalling 124 new homes built. Clearwell advanced £3.4m of funds on these 13 projects and received £4.6m in return. This represents a total profit of £1.2m and a money on invested capital of 1.35x or 31% IRR [2].

After successfully raising £448,000 with the Clearwell Bond One, they have launched a second bond with CODE Investing. Clearwell is seeking to raise between £250,000 and £1,000,000. The finance raised will provide further funding to small developers.

Bondholders will receive a 10% (gross) annual interest payment* for three years. The Clearwell Bond Two will be secured by a debenture on the assets of the bond issuer. The bond ranks equally with the previous and future bonds. Debt to ThinCats is owed by a separate group company, with over £2 million already repaid to ThinCats investors to date [3].

*Similar to interest rates paid to CODE Investing and ThinCats investors on prior fund raisings.

[1] Information verified by CODE Investing[2] Information verified by CODE Investing[3] Information verified by CODE Investing

Clearwell Bond Two

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Attention: The Mini Bonds you are considering buying will be an illiquid (they lack the ability to be sold before maturity), non- transferable investment, which will lock up your money for 3 years. You may lose some or all of your capital should you invest as the assets on which the bonds are secured may not be sufficient to pay back your investment in all circumstances. Please read the important notice on page 3 and risk factors starting on page 30 carefully.In respect of its regulated activities, CODE Investing Limited (No. 586771) is authorised and regulated by the Financial Conduct Authority (No. 627852).

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