Allia C&C is pleased to announce the successful close of Belong Limited’s 7.5% Social Bonds due 2033, with the £40 million issue oversubscribed following strong demand from investors.
The £40 million bonds were issued at a price of 100 on 18 June 2026 by RCB Bonds PLC (“RCB”), secured on a loan to Belong Limited, are now trading on the London Stock Exchange at 101-102.
Belong and the bonds are rated BBB+ by Fitch. These are the first rated bonds to be issued by RCB which enabled it to attract demand from a wider investor base and issue successfully in a very volatile market.
The bonds are also Social Bonds under RCB’s Sustainability Bond Framework which is aligned with relevant ICMA Principles, as affirmed by S&P. The bonds have been admitted to the FCA’s Official List and, as they are available in small denominations, are being traded on London Stock Exchange as Access Bonds.
Approximately £22 million of the proceeds will be used to refinance Belong’s remaining 2026 bonds, with most of the balance retained to support Belong’s future business needs.
Belong is a pioneering charity and care provider for older people, particularly those living with dementia. It operates an innovative village model across the North West, combining specialist care, independent living and community amenities. This is Belong’s third loan through RCB Bonds PLC.
The proceeds are being used to repay existing debt and support the opening of its 9th Village, due to take place in the 2nd half of 2026.
The issue represents two important milestones for RCB Bonds PLC: it takes total issuance through the platform to more than £0.5 billion and marks RCB’s first rated bond. Since launch, RCB has on-lent proceeds to charities delivering a wide range of services, from residential care to financial services.
Adrian Bell, CEO of Allia C&C, said: “We are delighted to have supported the successful close of this £40 million Social Bond for Belong, and especially pleased to see such strong investor demand, which we believe was supported in part by the credit rating. The oversubscription reflects both the strength of Belong’s long-standing, innovative model of care and the appeal of credits that deliver clear social impact. This transaction helps secure long-term funding for an organisation making a real difference to the people and communities it serves, while also giving investors access to a compelling income opportunity.”
The Belong Limited 7.5% Social Bonds due 2033 carry a fixed coupon of 7.5% and were offered to eligible investors in the UK through appointed intermediaries including A J Bell, Hargreaves Lansdown and Interactive Investor. The bonds are expected to mature on 18 June 2033.
