RMBI Care Co. 6.25% Sustainable Bonds due 2029
We’re delighted to announce the launch of The Royal Masonic Benevolent Institution Care Company 6.25% Sustainable Bonds due 2029 (the “Bonds”).
With the number of over 85s forecast to double to 3.3 million over the next 25 years, the requirement for high quality residential care and services for the UK’s ageing population is becoming ever more pressing. In the meantime much of the existing accommodation is no longer fit for purpose, with 54% of current care homes stock aged 20 years or older. The provision of this care and accommodation comes from a number of different sources spanning the public and private sectors, while charities also fulfil a critical role: reinvesting surpluses into delivering better, fit for purpose accommodation and ensuring their staff are well trained and properly paid.
RCB, a special purpose issuing vehicle, was established to help charities and ethical companies raise loan finance in the bond markets. Such loan finance enables care providers to invest in building new homes and bringing existing ones up to modern standards to support the provision of quality care. To date RCB has issued £377 million of bonds across 12 transactions for seven charities, supporting investment in projects which provide strong social impact.
The latest RCB offer is for The Royal Masonic Benevolent Institution Care Company, a growing charitable organisation, which provides residential care, nursing care and residential dementia support to older people.
The Bonds are available to wholesale and retail investors and will pay a fixed rate of interest at 6.25% per annum until 7 March 2029, payable twice yearly on 7 March and 7 September of each year, with the first coupon payment being made on 7 September 2023. The Bonds are expected to mature on 7 March 2029 with a final legal maturity on 7 March 2031.
The offer period is expected to close at noon on 28 February 2023 but may close earlier.
For more information, please go to: www.rcb-bonds.com/rmbi
Your capital is at risk. You should be aware that you could get back less than you invested or lose your entire initial investment.
This announcement is an advertisement within the meaning of Article 2(k) of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (the “EUWA”) (the “UK Prospectus Regulation”) and is not a prospectus for the purposes of the UK Prospectus Regulation. A prospectus dated 30 January 2023 (the “Prospectus”) relating to the Bonds has been prepared and made available to the public in accordance with the UK Prospectus Regulation.
This announcement is a financial promotion and is not intended to be investment advice. It was approved on 30 January 2023 by Allia C&C (a trading name of City & Continental Ltd) and will end on the closing of the offer of the Bonds, unless revoked earlier.