Chicago, Feb. 24 – The Royal Masonic Benevolent Institution Care Co. issued £20 million of 6¼% sustainable bonds due 2029, according to a notice.
RCB Bonds plc was publicly offering the bonds.
There are make-whole redemption provisions.
The bonds will be secured on a loan to the Royal Masonic Benevolent Institution.
The offering closed at 7 a.m. ET on Feb. 24.
Allia C&C (City & Continental Ltd.) is the manager for the offering.
Royal Masonic is retaining £10 million of the offering.
Proceeds will be used for general corporate purposes, to invest in solar energy projects and for the furtherance of charitable objects.
The bonds will be listed in London.
There will be no credit rating on the bonds.
The issue of bonds is conditioned upon a subscription agreement being signed by the issuer and manager by March 3, a commitment agreement signed on March 3 and a loan agreement signed on or around March 7.
The charity’s main activities are to provide residential care, nursing care and residential dementia support to older Freemasons and their families.
| Issuer: | Royal Masonic Benevolent Institution Care Co.
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| Amount: | £20 million
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| Issue: | Sustainable bonds
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| Maturity: | March 7, 2029
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| Bookrunners: | Allia C&C
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| Trustee: | M&G Trustee Co. Ltd.
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| Counsel to issuer: | Linklaters LLP
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| Counsel to underwriters: | Allen & Overy LLP
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| Coupon: | 6¼%
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| Call features: | Make-whole call
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| Settlement date: | March 7
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| Distribution: | Public
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| ISIN: | XS2491730375
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