Care home operator Greensleeves has launched a Bond to attract new sources of funding.
The Bonds will be issued by Retail Charity Bonds PLC, a special purpose issuing vehicle connecting charitable organisations seeking unsecured loan finance with investors looking for fixed income bonds on the London Stock Exchange.
Paul Newman, chief executive of Greensleeves Care, said: “Greensleeves is a growing charitable organisation and the funds raised will be used to diversify our sources of funding and allow us to invest for the future and in our key aim to expand our provision of high quality care.”
The Bonds are available to wholesale and retail investors and will pay a fixed rate of interest at 4.25% per annum, payable twice yearly on 30 March and 30 September of each year with the first coupon payment being made on 30 September 2017.
The Bonds are expected to mature on 30 March 2026 with a final legal maturity on 30 March 2028.
At any time during the life of the Bond, investors are permitted to sell (within market hours and in normal market conditions) on the open market through their stockbroker.
For further information, please see website: http://www.greensleeves.org.uk/retail-charity-bond