You are viewing 1 of your 1 free articles
Retail bond for charitable housing launched
A charity offering specialist housing to disabled people has launched a retail charity bond, offering returns of 3.9%.
Golden Lane Housing, established by Mencap, will invest the cash raised through the bonds issued by Retail Charity Bonds, which are available to wholesale and retail investors.
They will pay a fixed rate of interest of 3.9% per year through to 2027 with two payments made per year. The cash raised will be loaned to Golden Lanes to invest.
READ MORE
The bonds will be listed on the London Stock Exchange.
This is the seventh bond to be launched by Retail Charity Bonds, a company established by Allia that aims to secure finance for charitable organisations.
It has previously raised money for Hightown Housing Association, Charities Aid Foundation, Greensleeves Homes Trust and Dolphin Living. In total the bonds have raised nearly £150m since 2014.
Alastair Graham, director of Golden Lane Housing, said: “We raised £11m in our previous Retail Charity Bond issue, which was invested into 30 properties delivering homes for 112 people, a very successful outcome for [us] as well as our tenants and investors.
“We are now delighted to be returning to the market for a second issue, which will help us to continue to address the enormous housing challenges faced by people with a learning disability and their families, while delivering a regular income return to our investors.”
