Authorised Offerors:
- AJ Bell Securities Limited
- Arnold Stansby & Co. Limited
- Equiniti Financial Services Limited
- Hedley & Company Stockbrokers Limited
- Interactive Investor Services Limited
- Redmayne Bentley LLP
Allia C&C is acting as manager (the “Manager”) of the issue of the New Bonds.
The New Bonds have a minimum initial subscription amount of £500 and are available in multiples of £100 thereafter.
The offer period is expected to close at noon on 2 December 2021. RCB retains the right to close the offer early, in conjunction with the Manager. Notice will be given via RNS should this occur.
The New Bonds are expected to be listed on the UK Financial Conduct Authority’s Official List and admitted to trading on the London Stock Exchange’s main market and through the electronic Order book for Retail Bonds on or around 9 December 2021.
The Tender Offer
Together with the launch of the offer for the New Bonds, RCB has published a fixed-price tender offer made by the Charity to invite holders of the Old Bonds to tender their bonds for purchase by the Charity. Subject to raising the required funds through the New Bonds, the Charity will purchase any and all Old Bonds tendered at a price of 113.5 (i.e. £113.50 for every £100 of bonds), together with accrued interest.
Commenting on the launch, Neil Heslop, OBE, Chief Executive of CAF, said: “The Charities Aid Foundation exists to accelerate progress in society towards a fair and sustainable future for all. Our value is as an integral meeting place where donors, charities and governments can convene in order to maximise impact. That impact has never been greater than over the past 20 months; it has been truly humbling to see the immense efforts of both our team and the charities we serve in quickly mobilising to ensure that the remarkable generosity spurred by the pandemic was deployed to causes demonstrating the greatest need.
“Reflecting the critical role that our organisation played during a pivotal time for the charity sector, we have significant ambitions to scale our offering and another successful bond issuance will allow us to build upon a spirit of giving and make donations go further, transforming more lives and communities around the world.”
Adrian Bell, CEO of Allia C&C, said: “This will be the second RCB issue for CAF, supporting the continued growth of its operations and ability to drive lasting change. It’s clear that CAF’s services are needed more today than they have ever been, and likewise, the demand for investment opportunities that create positive impact continues to grow. The RCB platform plays a vital role in enabling charity borrowers to access that demand and raise funding for growth.”
John Tattersall, chair of RCB, added: “We are pleased to be launching our twelfth issue and our second for the Charity, a further demonstration that the uniformity of our structuring and on-lending process continues to prove efficient and work for a variety of different organisations. We have now issued over £320 million of bonds for a range of charities.”
