Thera Trust, a charity that supports adults with learning disabilities, has entered the capital markets with a £6m social investment programme listed on the Euro MTF market of The Luxembourg Stock Exchange.
The first £1m has been raised through a three-year corporate bond paying 3.5 per cent gross fixed interest a year. The programme was structured by law firm Linklaters, and Thera is working with social investment intermediary and consultancy Investing for Good on the initiative.
The bond will help provide a wider range of care, support and opportunities to people with a learning disability across the spectrum of Thera's different activities.
Announcing the programme, Thera said interest in the first issue came from a wide range of investors. The Rathbone Ethical Bond Fund, run by Bryn Jones as lead manager, continues to support the charity bond market with its investment into Thera.
Director at Thera Trust Simon Conway said the charity had been “greatly heartened” by the level of interest in the bond.
Linklaters partner Mark Nuttall said the issuance was significant not just for Thera but for the social finance sector as a whole.
“Linklaters are delighted to assist in Thera Trust’s premier £1m issuance to the capital markets, enabling Thera to be one of the first charitable institutions to access this deep pool of investors.”
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