Allia C&C has arranged a tap of the MORhomes 3.4% bonds, raising £28 million for Calico Homes from a new investor. The new bonds were issued at a yield of 2.768%, a spread of 154bps (1.54%) over the benchmark gilt rate, which was significantly below the current bid price. This is the lowest spread that has been achieved since the launch of the bond in February 2019.
West of Scotland Housing Association (WSHA) has received a loan of £13 million, arranged by Allia C&C under its charitable bond programme with Scottish Government. The loan will support the development of around 150 homes for social and mid-market rent across Ayrshire and Glasgow, including 36 ultra-low energy homes at Springfield Cross in Glasgow.
Allia C&C is pleased to announce the sale of the remaining £4 million of retained bonds from the issue of the Golden Lane Housing 3.9% Bonds due 2027. The bonds were sold to a broad group of professional and institutional investors at a price of 105.5, which equates to a yield of 3% – the lowest rate achieved on the sale of RCB bonds since the launch of the platform in 2014.
2020 was a truly unprecedented year with COVID-19 prompting global lockdowns, record-breaking government stimulus packages and all-time low interest rates. Despite the turbulence, the Retail Charity Bond platform has continued to deliver for borrowers over the year – both in terms of new issuance and trading performance, underpinned by strong support from ethical investors.
We are delighted to announce the successful closure of two transactions in the space of one week for charities delivering strong social impact.
Allia C&C is pleased to share our latest issue of ‘Care Thoughts’. Care Thoughts is a series of think pieces dedicated to raising awareness of key topics and challenges relating to funding the charitable care sector, and provoking meaningful action to address these problems.
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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.