£50m RCB issue for CAF
Allia C&C is pleased to announce the successful close of the 12th RCB transaction – a £50m issue for Charites Aid Foundation (CAF), with £30m bonds sold to meet its immediate requirement for funds and a further £20m held as “Retained Bonds” that can be sold to meet any further need for debt.
RCB limit down to £5m
The UK Government has announced that it will lower the limit for RCB issues to £5 million. In May this year the Government launched a consultation on potential changes to the regulations on taxation of securitisation companies. Amongst other points, it asked respondents for their views on lowering the threshold which determines the minimum size for RCB issues.
Care Thoughts: Inflation and the Impact on Funding
Our latest Care Thoughts issue looks at inflation and the recent subtle shift in attitude amongst both investors and the central banks.
Successful sale of £10m Greensleeves retained RCB bonds
We are delighted to announce the successful sale of retained bonds for Greensleeves Home Trust. The Greensleeves £25m 5% 2030 bonds, with £10m retained, were issued in December 2020 – the second time Greensleeves has borrowed through the RCB platform.
£15m RCB bond issue for Golden Lane Housing
Allia C&C is pleased to announce the early closing of the £15m 10 year RCB bond issue for Golden Lane Housing.
Burford Capital Tender Offer
Allia C&C is delighted to announce the completion today of a tender offer for a partial buy-back of Burford Capital Limited’s 6.5 % Guaranteed Bonds due 19 August 2022.
Care Thoughts: A Problem of Inappropriate Covenants
Allia C&C is pleased to share the latest issue of ‘Care Thoughts’ – a series of articles dedicated to raising awareness of key topics and challenges relating to funding the charitable care sector, and provoking meaningful action to address these problems. In this issue, we look at the financial ratios used by existing lenders to the sector. We look at the appropriateness and constrains of these ratios and compare to the situation faced by the Housing Association and Private Rented Accommodation sectors.
RCB investor update
Allia C&C has published the first of its new bi-annual RCB investor updates, providing commentary on each of the borrowers that has raised funding through RCB.
Government consults on lower limit for RCB issues
The UK government has launched a consultation on potential changes to the regulations on taxation of securitisation companies. Amongst other points, it is considering lowering the threshold which determines the minimum size for Retail Charity Bond issues. Allia C&C, the Impact Investing Institute, Big Society Capital and Social Enterprise UK have today submitted a joint response arguing that this limit should be reduced to £5 million.