Allia C&C is pleased to announce the early closing of the £15m 10 year RCB bond issue for Golden Lane Housing.
This carries the lowest coupon achieved so far on an RCB issue – 3.25% – and represents a spread of 240bps over the relevant gilt; 50bps tighter than Golden Lane achieved in March on the sale of its £4.0m 3.9% 2027 retained bonds.
It is the third new issue Golden Lane has made on the RCB platform and as such benefits from a growing band of investors committed to following the company and contributing to the fulfilment of its social purpose.
Demand was also enhanced by the ESG second party opinion from Standard and Poors which RCB now has on all of its new issues. It is interesting to note that the issue benefited from at least one new institutional investor looking to commit to the platform.
Commenting on the success of the offer, John Verge, Chief Executive of Golden Lane Housing, said: “The significant appetite for these bonds is a great result for Golden Lane Housing, and highlights the strong recognition by the investor community as to our business case, which is based around providing quality homes to people with learning disabilities in the UK. The funds raised will enable us to continue to address the enormous housing challenges faced by people with a learning disability, so that they can prosper, develop their independence and skills and contribute to their communities.”
Henrietta Podd, Director Debt Capital Markets, Allia C&C, added: “RCB now represents a very attractive funding opportunity for Impact Issuers with a strong social purpose or ethical mission. Investors are keen to see more opportunities and we would be delighted to talk with you about your borrowing plans.”
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