About RCB

RCB is a bond issuing platform created to raise debt finance for charities through bonds listed on the Order book for Retail Bonds (ORB) of London Stock Exchange.

By issuing the bonds through a special purpose vehicle and lending on the proceeds, RCB allows charities to reach out to their natural supporters for amounts of £10 million or more, while allowing investors to trade the bonds in the secondary market.

How it works

The bonds are issued by a special purpose vehicle, Retail Charity Bonds PLC. Its only business is issuing bonds, lending the proceeds to UK charities and related activities, and it has no employees. Its administration is undertaken by Allia Bond Services (a subsidiary of Allia C&C).

The proceeds of each bond issue will be loaned to a specific UK charity. The charity’s payments on the loan fund the payments to bondholders.

Each series of bonds has limited recourse to the relevant charity loan, meaning that investors in each series are relying solely on the relevant charity for payments of interest and principal. They are not taking risk on any other charities that have received loans through the platform.

Sustainability Bond Framework

The board of RCB carefully considers the activity and future plans of each prospective borrower to ensure that the platform is delivering its objective to facilitate positive impact. RCB has produced a Sustainability Bond Framework to demonstrate its alignment with the ICMA’s Social Bond Principles and Green Bond Principles.

An external review of the Framework has been provided by an experienced and independent second-party opinion provider, S&P Global Ratings.

The Board

Retail Charity Bonds PLC is governed by a board of directors with significant experience in the financial and charitable sectors. This independent board will review applications by appropriate, established charities seeking loan finance.

THE ISSUER

Retail Charity Bonds PLC

Retail Charity Bonds PLC is a public company registered in England and Wales with company number 8940313 and with its registered office at Allia Future Business Centre, King’s Hedges Road, Cambridge, United Kingdom, CB4 2HY. It is an independent special purpose vehicle and not a charity.

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