The first Retail Charity Bond to be issued for the care sector has closed after less than a week, having raised £33 million.
The bond, for Greensleeves Care, pays an interest rate of 4.25% a year for a term of nine years, and saw strong demand from a range of institutional, ethical and individual investors.
The bond will be issued through Allia’s Retail Charity Bond platform. According to Allia, it is the largest Retail Charity Bond and the lowest interest rate to date. It brings the total raised through the platform to £91million, following previous issues for Golden Lane Housing (£11m), Hightown Housing Association (£27m) and Charities Aid Foundation (£20m).
Read more on fundraising
