Funding for care assets is less accessible and more expensive than for social housing. Henrietta Podd, director – debt capital markets at Allia C&C, outlines the financial perspective on the care sector. This article was first published by Social Housing
Ecology Building Society has raised £3 million through an issue of ‘core capital deferred shares’ (CCDS), arranged by Allia C&C. The share issue will enable the Society to grow its balance sheet, invest in innovation and drive forward its mission to improve the environment by supporting and promoting ecological building practices and sustainable communities through its lending impact.
Allia C&C, the financial services arm of Cambridge-based charity Allia, is pleased to announce the opening of an office in Glasgow to serve its clients in Scotland and the North of England. It has appointed Peter Freer to head the office where he will be responsible for Allia C&C’s charitable bond programme with the Scottish Government and relationships with Scottish housing associations and other charities.
New Gorbals Housing Association has received a loan of £3.5 million arranged by Allia C&C under its charitable bond programme with Scottish Government. The loan will allow New Gorbals Housing Association to develop 55 units for social rent as part of the mixed tenure regeneration of the once run down and neglected Laurieston area of the Gorbals in Glasgow.
Ayrshire Housing has received a loan of £8 million through a charitable bond arranged by Allia C&C. It is the third and the largest loan that the association has received under Allia C&C’s programme with Scottish Government.
In January this year the FCA announced a temporary ban on the mass-marketing of speculative illiquid securities, including speculative mini-bonds, to retail investors. In June it then announced proposals to make the ban permanent with a number of changes and clarifications, and put these out for consultation.
Lochalsh & Skye receives £4m charitable bond funding Lochalsh & Skye Housing Association has received a loan of £4 million through a charitable bond arranged by Allia C&C. It is the second loan that the association has received under Allia C&C’s programme with Scottish Government, and comes as Allia C&C prepares to open a new Scottish office.
Mark Glowrey, Director, Fixed Income Sales, at Allia C&C, outlines more about Allia’s Retail Charity Bonds, and describes in detail seven specific bonds which were issued by them since 2014 to date.
The Government has launched a number of schemes designed to support charities and businesses in these difficult times. Working with our long term partner, Chatham Financial, Allia C&C has already advised a number of charities on successfully taking advantage of these schemes to help them continue to deliver their social impact.