Kingdom Housing Association’s plans to develop 25 much-needed homes for social rent at Park Road in Kirkcaldy received a welcome boost today with news that the Association has received a donation of £2.01 million from the Scottish Government through the Scottish Charitable Bond programme managed by Allia C&C.
Charity Bank, the loans and savings bank owned by and committed to serving the social sector, has announced both the successful raise of nearly £5 million in subordinated debt and its plans to attract an additional £10 million in new equity investment from charities, trusts and foundations.
The loan supports Ayrshire Housing’s latest project in Ayr which is just getting underway. The 27 flat project includes housing for clients of the South Ayrshire Health and Social Care Partnership within an integrated setting.
In February 2019, the Scottish Government announced it was investing £40 million into Allia’s Scottish charitable bond programme for 2019/20. The successful programme has been oversubscribed this year, and so the Scottish Government has confirmed it will commit a further £20 million into the programme to meet demand.
Allia C&C, working with JCRA, are pleased to announce they have successfully arranged the sale of Richmond Housing Partnership’s (RHP) £35 million nominal of Retained Bonds.
In November 2017, the Retail Charity Bonds made a £18m issue for Golden Lane Housing with a 3.9% coupon and a maturity of 2027. £10 million was sold immediately with a further £8 million held as retained bonds.
Allia C&C has issued a loan of £13 million to support Partick Housing Association’s plans to build over 140 new homes in the West End of Glasgow over the next five years.
Allia C&C (under the former name of Allia Impact Finance) has been supporting the vital development of affordable homes across Scotland for the last four years with its Scottish Charitable Bond programme.
In March 2017, the Retail Charity Bonds made a £50m issue for Greensleeves Care with a 4.25% coupon and a maturity of 2026. £33 million was sold immediately with a further £17 million held as retained bonds.