Borrowers2023-06-13T09:12:46+00:00

RCB for Charity Borrowers

RCB is designed to provide charity borrowers with access to the capital markets, enabling them to raise loan finance on light terms for capital investment and growth.

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Key features

Amounts from £5m

Initial loan amounts range from £5m to £50m or more. The loan can be further extended by up to 90% of the initial amount through the sale of retained bonds.

5-25 year funding

For terms up to 10 years bonds can be offered publicly and widely distributed. For terms up to 25 years bonds will be placed with one or more institutional investors.

Secured or unsecured

No security is required for public offers of up to 10 years, though borrowers are generally required to maintain enough unsecured assets to cover the loan. RCB can also provide secured longer-dated loans.

Unrestricted

No restrictions on how the borrower uses the funding. Investors will invest based on the credit strength of the borrower and not on the basis of any future business plans.

Light covenants

Unsecured issues typically have light covenants, tailored to each borrower. All borrowers are required to provide six-monthly trading updates and an annual statement of social impact.

Access to a wide range of investors

A listed RCB issue provides access to both institutional investment funds and to individual investors, who can invest from £500 through their broker.

Sustainability bond framework

RCB can issue social, green and sustainable bonds under a framework accredited by S&P Global. This alignment with the ICMA principles creates a strong appeal for ethically-focused investors.

Restructuring of existing loans

RCB provides the ability to purchase, restructure and refinance existing loans, enabling borrowers to address high costs and onerous covenants in their current debt portfolio.

Current issues

The Royal Masonic Benevolent Institution Care Company 6.25% Sustainable Bonds due 2029

The Royal Masonic Benevolent Institution Care Company 6.25% fixed rate Sustainable Bonds due 2029 pay a fixed rate of interest of 6.25% per annum, payable twice yearly on 7 March and 7 September of each year. The Bonds are expected to mature on 7 March 2029 with a final legal maturity on 7 March 2031.
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  • £20m
  • 6 Years
  • 2023

Charities Aid Foundation 3.5% Bonds due 2031

The Charities Aid Foundation 3.5% fixed rate Bonds due 2031 pay a fixed rate of interest of 3.5% per annum, payable twice yearly on 8 June and 8 December of each year. The Bonds are expected to mature on 8 December 2031 with a final legal maturity on 8 December 2033.
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  • £50m
  • 10 Years
  • 2021

Golden Lane Housing Ltd 3.25% Social Bonds due 2031

The Golden Lane Housing Ltd 3.25% fixed rate Bonds due 2031 will pay a fixed rate of interest of 3.25% per annum, payable twice yearly on 22 January and 22 July of each year. The Bonds are expected to mature on 22 July 2031 with a final legal maturity on 22 July 2033.
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  • £15m
  • 10 Years
  • 2021

Greensleeves Homes Trust 5% Bonds due 2030

The Greensleeves Homes Trust 5% fixed rate Bonds due 2030 pay a fixed rate of interest of 5% per annum, payable twice yearly on 17 December and 17 June of each year. The Bonds are expected to mature on 17 December 2030 with a final legal maturity on 17 December 2032.
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  • £25m
  • 10 Years
  • 2020

The Alnwick Garden Trust 5% Bonds due 2030

The Alnwick Garden Trust 5% fixed rate Bonds due 2030 will pay a fixed rate of interest of 5% per annum, payable twice yearly on 27 March and 27 September of each year. The Bonds are expected to mature on 27 March 2030 with a final legal maturity on 27 March 2032.
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  • £18m
  • 10 Years
  • 2020

Belong Limited 4.5% Bonds due 2026

The Belong Limited 4.5% fixed rate Bonds due 2026 pay a fixed rate of interest of 4.5% per annum, payable twice yearly on 20 June and 20 December of each year. The Bonds are expected to mature on 20 June 2026 with a final legal maturity on 20 June 2028.
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  • £50m
  • 8 Years
  • 2018

Golden Lane Housing Ltd 3.9% Bonds due 2027

The Golden Lane Housing Ltd 3.9% fixed rate Bonds due 2027 will pay a fixed rate of interest of 3.9% per annum, payable twice yearly on 23 May and 23 November of each year. The Bonds are expected to mature on 23 November 2027 with a final legal maturity on 23 November 2029.
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  • £18m
  • 10 Years
  • 2017

Hightown Housing Association Limited 4% Bonds due 2027

The Hightown Housing Association Limited 4% fixed rate Bonds due 2027 pay a fixed rate of interest of 4% per annum, payable twice yearly on 30 April and 31 October of each year. The Bonds are expected to mature on 31 October 2027 with a final legal maturity on 31 October 2029.
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  • £38m
  • 10 Years
  • 2017

The Dolphin Square Charitable Foundation 4.25% Bonds due 2026

The Dolphin Square Charitable Foundation 4.25% fixed rate Bonds due 2026 pay a fixed rate of interest of 4.25% per annum, payable twice yearly on 6 January and 6 July of each year. The Bonds are expected to mature on 6 July 2026 with a final legal maturity on 6 July 2028.
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  • £45m
  • 9 Years
  • 2017

Greensleeves Homes Trust 4.25% Bonds due 2026

The Greensleeves Homes Trust 4.25% fixed rate Bonds due 2026 pay a fixed rate of interest of 4.25% per annum, payable twice yearly on 30 March and 30 September of each year. The Bonds are expected to mature on 30 March 2026 with a final legal maturity on 30 March 2028.
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  • £50m
  • 9 Years
  • 2017

Charities Aid Foundation 5% Bonds due 2026

The Charities Aid Foundation 5% fixed rate Bonds due 2026 pay a fixed rate of interest of 5% per annum, payable twice yearly on 12 October and 12 April of each year. The Bonds are expected to mature on 12 April 2026 with a final legal maturity on 12 April 2028.
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  • £30m
  • 10 Years
  • 2016

Hightown Praetorian & Churches Housing Association 4.4% Bonds due 2025

The Hightown Praetorian & Churches Housing Association Limited 4.4% fixed rate Bonds due 2025 pay a fixed rate of interest of 4.4% per annum, payable twice yearly on 30 October and 30 April of each year. The Bonds are expected to mature on 30 April 2025 with a final legal maturity on 30 April 2027.
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  • £27m
  • 10 Years
  • 2015

Golden Lane Housing Ltd 4.375% Bonds due 2021

The Golden Lane Housing Ltd 4.375% fixed rate Bonds due 2021 paid a fixed rate of interest of 4.375% per annum, payable twice yearly on 29 January and 29 July of each year. The Bonds matured on 29 July 2021.
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  • £11m
  • 7 Years
  • 2014

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    RCB is a brand name of RCB Bonds PLC, a public company registered in England and Wales with company number 8940313. Registered office: Future Business Centre, King’s Hedges Road, Cambridge, CB4 2HY. Created and managed by Allia C&C

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