By Lisa Kerner
Charlotte, N.C., April 17 – Retail Charity Bonds plc closed its offer for its 4% 10-year Hightown Praetorian & Churches Housing Association Retail Charity Bond on Friday.
The total principal amount of the bonds is £27 million for net proceeds of about £26.87 million.
As previously reported, proceeds will be loaned to Hightown, a social housing provider.
The offer, announced on March 31, was available to retail and wholesale investors.
The bonds will be issued on April 30, according to a news release.
The bonds had a minimum initial subscription amount of £500 and multiples of £100 thereafter.
The bonds are expected to mature on April 30, 2025, with a final legal maturity on April 30, 2027.
Canaccord Genuity Ltd. acted as lead manager.
Authorized distributors include iDealing, Interactive Investor and Redmayne Bentley.
Hightown operates in Hertfordshire, Buckinghamshire and Bedfordshire with its head office located in Hemel Hempstead.
Retail Charity Bonds is an initiative of Allia, a U.K. charity and social investment specialist, and established in association with Canaccord Genuity.
Issuer: | Retail Charity Bonds plc
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Issue: | Hightown Praetorian & Churches Housing Association Retail Charity Bond
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Amount: | £27 million
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Maturity: | April 30, 2025
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Coupon: | 4%
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Announced: | March 31
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Offering ended: | April 17
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Settlement: | April 30
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Lead manager: | Canaccord Genuity Ltd.
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Distributors: | iDealing, Interactive Investor, Redmayne Bentley
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