CITYA.M. reports that Chilango, the Mexican food restaurant chain, has launched ‘burrito bonds’ to fund its further expansion.
The 4 year retail bond was launched 10 June on crowdfunding platform Crowdcube with the aim of raising between £1m and £3m. It offers 8% in cash twice a year, but requires a minimum investment of £500. If you invest over £10k, you receive a Chilango Black Card entitling you to a free burrito every week for the four year duration.
Chilango was founded in 2007 by Eric Partaker and Dan Houghton, and has seven sites. The money raised will be used to fund three new restaurant openings in London this year.
Given the current popularity of Mexican food as well as the restaurant sector, the offer seems certain to attract significant interest from both investors and burrito enthusiasts!
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