A Retail Charity Bond launched by Greensleeves Care on the London Stock Exchange this week has raised £33m.
The funds raised in less than a week by the bond, which is the first of its kind, will be used to buy and develop new homes, as well as pay down existing debt, and to expand the number of residents who receive care.
Paul Newman, chief executive of Greensleeves Care, said: “As the largest Retail Charity Bond issue, we are delighted with the response from investors, resulting in the early closure of our debut Retail Charity Bond.
“We will put the proceeds to use immediately, investing in our portfolio, both buying and developing new homes, to ensure that we continue to provide our residents with the best possible care in homely, high quality surroundings.”
Greensleeves Care supports almost 800 residents across 20 residential, dementia and nursing homes across England.
Other recent retail charity bond providers include the Charities Aid Foundation, which raised £20m in March last year, the Hightown Praetorian & Churches Housing Association, which raised £27m in 2015, and Golden Lane Housing, which raised £11m in 2014.