Retail Charity/Charities Aid launch 3½% bonds due 2031

Chicago, Nov. 11 – Retail Charity Bonds plc (RCB Bonds plc) is offering for sale Charities Aid Foundation 3½% bonds due Dec. 8, 2031, according to an announcement.

The final legal maturity is Dec. 8, 2033 if the issuer fails to redeem the bonds on Dec. 8, 2031. The rate will step up 1% per year if they are not redeemed on the first maturity date.

The bonds will be sold at par.

Both retail investors and wholesale investors can participate in the offer.

Allia C&C is acting as manager.

The offer period is expected to close at 7 a.m. ET on Dec. 2.

There will be a make-whole premium if the bonds are redeemed early at the option of the issuer.

Charities Aid will use the proceeds from the bonds to buy back £30 million of 5% bonds through a tender offer.

Any proceeds not used for the tender offer will be used to further its charitable objectives.

The bonds will not be rated.

Trading will be on the London Stock Exchange with listing expected for Dec. 9.

Retail Charity Bonds is an initiative of Allia, a U.K. charity and social investment specialist, and established in association with Canaccord Genuity. CAF provides services to charities, including help with fundraising.

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