The second bond to be launched through the Retail Charity Bonds platform has reached an early close after raising £27m.
The bond, for Hightown Praetorian & Churches Housing Association, was launched to finance an affordable housing programme across Hertfordshire, Buckinghamshire, and Bedfordshire.
The offer was launched on 31 March and closed 10 days early on 17 April after strong demand from retail and institutional investors. The bonds will pay a fixed rate of interest of 4.4 per cent a year and are expected to mature in 2025.
Allia created the Retail Charity Bonds platform in association with global investment bank Canaccord Genuity.
Hightown chief executive David Bogle said the charity is delighted with the success of the bond issue.
“Affordable homes are in very high demand in our area, and it will help us fund the work we do in providing high quality homes to homeless people and those who cannot afford to rent or buy at market rates.”
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