TIDMMCAP
RNS Number : 9262S
Retail Charity Bonds PLC
22 March 2016
The information contained herein may only be released, published
or distributed in the United Kingdom, the Isle of Man, Jersey and
the Bailiwick of Guernsey in accordance with applicable regulatory
requirements. The information contained herein is not for release,
publication or distribution in or into the United States,
Australia, Canada, Japan, South Africa, the Republic of Ireland or
in any other jurisdiction where it is unlawful to distribute this
document. The bonds referred to below may only be sold in Jersey in
compliance with the provisions of the Control of Borrowing (Jersey)
Order 1958 and the Financial Services (Jersey) Law 1998, as
amended.
LAUNCH OF RETAIL CHARITY BOND
CHARITIES AID FOUNDATION RETAIL CHARITY BOND 5% DUE 2026
Retail Charity Bonds PLC today announces the launch of the
Charities Aid Foundation Retail Charity Bond offering 5% due
2026.
This is the third bond to be issued through the Retail Charity
Bonds platform, which was created as an issuing vehicle to enable
UK charities to raise medium term debt finance through bonds issued
to retail and wholesale investors.
The Bonds will be issued by Retail Charity Bonds PLC and the
funds raised will be loaned, via a loan agreement, to Charities Aid
Foundation (CAF), one of the largest providers of philanthropic
services to charities and donors worldwide.
The Bonds are available to wholesale and retail investors and
will pay a fixed rate of interest 5% per annum, payable twice
yearly on 12 April and 12 October of each year with the first
coupon payment being made on 12 October 2016. The Bonds are
expected to mature on 12 April 2026 with a final legal maturity on
12 April 2028.
At any time during the life of the Bond, investors are permitted
to sell the Bonds (within market hours and in normal market
conditions) on the open market through their stockbroker.
Canaccord Genuity Ltd is acting as Lead Manager on the
issue.
The Bonds have a minimum initial subscription amount of GBP500
and are available in multiples of GBP100 thereafter. The offer
period is expected to close at 12 noon on 6 April. The Issuer
retains the right to close the offer early, in conjunction with the
Lead Manager.
The Bonds are expected to be listed on the UK Listing
Authority's Official List and admitted to trading on the London
Stock Exchange's regulated market and through the electronic Order
book for Retail Bonds.
CAF helps people and companies support the causes they care
about and provides financial services for the charity sector. It
provides a range of services for individual and company donors,
including charity accounts, charitable trusts, and legacy services,
company accounts and payroll giving. It also provides fundraising
support services for charities, social investment and financial
services for the not-for-profit sector, including investments and a
range of banking and loans through CAF Bank.
John Low, Chief Executive of CAF, said:
"CAF has a 90 year record supporting civil society by helping
people to support charities safely and effectively and helping
charities make the most efficient use of their money. The funds
raised from this Retail Charity Bond will enable us to further our
work in a variety of ways, including expanding services for donors
and for charities through CAF Bank."
Tim Jones, Chief Executive of Allia, added:
"This third Retail Charity Bond issue demonstrates the
platform's track record of providing a new source of unsecured loan
finance for charities and enabling investors to make positive
social impact. We created Retail Charity Bonds to help charities
deliver their social mission, and this bond for CAF will result in
widespread benefit across the charity sector."
Adrian Bell, Head of Debt Markets UK, Canaccord Genuity,
said:
"CAF is one of the UK's largest charities and demonstrates the
quality of established organisations with charitable status that
Retail Charity Bonds is enabling to access medium term finance and
further their charitable objectives. Investors seeking social
investment opportunities are able to benefit from a transparent and
liquid market that offers a financial return and creates tangible
social benefit."
For further information, please see CAF's website:
www.cafonline.org
For enquiries please contact:
CAF Tel: +44 (0)3000
Ben Russell 123286
Simon Ward
Bell Pottinger Tel: +44 (0)20
Victoria Geoghegan 3772 2582
Elizabeth Snow
Canaccord Genuity Tel: +44 (0)20
Adrian Bell 7523 8000
Henrietta Podd
About CAF
Charities Aid Foundation is one of the largest charitable
foundations in Europe and is among the largest providers of
philanthropic products and services to charities, donors, and
companies worldwide.
CAF draws on a 90 year track record and serves individual
charity donors, businesses and charities, helping them give to the
causes they care about and providing financial services tailored to
the charity sector.
CAF works with 250,000 donors, 3,000 companies - including 66%
of the FTSE 100 - and 50,000 charities.
CAF channelled GBP478 million to charities worldwide in 2014/15
and provides a wide range of services to charities, donors and
companies in the UK and worldwide.
CAF Charity Accounts and CAF Charitable Trusts allow people to
make donations to charitable organisations in the UK and
worldwide.
CAF Give As You Earn (GAYE) is the most popular payroll-giving
scheme in the UK, helping nearly 2,700 companies and 200,000 staff
to give over GBP70 million to charity each year.
CAF Company Accounts enable companies to give tax effectively
and to donate safely to charitable organisations around the
world.
CAF Donate is an online donation processing platform giving
charities the tools to fundraise through the web, mobile devices
and Facebook and process donations received by post and phone.
CAF Bank, a wholly owned subsidiary of CAF, provides banking
services to over 17,400 charities and not-for-profit
organisations
CAF's Global Alliance includes organisations in America,
Australia, Canada, Brazil, Russia, India, South Africa and Bulgaria
working to strengthen civil society by promoting philanthropy,
working with donors to encourage giving, and offering services to
facilitate giving.
About Retail Charity Bonds
Retail Charity Bonds is a platform that issues retail eligible
bonds for UK charities. It was created by Allia, a UK charity and
social investment specialist, and established in association with
Canaccord Genuity.
Retail Charity Bonds PLC is a public limited company; it was
established as a special purpose issuing vehicle but is not itself
a charity. It is governed by an independent and experienced board
of directors from the financial and charity sectors who are acting
on a pro-bono basis.
The platform is also supported by a range of patrons, including:
Cabinet Office, Allen & Overy, Bank of New York Mellon, Bell
Pottinger, Berwin Leighton Paisner, Big Society Capital, Edentree
Investment Management, Linklaters, London Stock Exchange,
Prudential Trustee Company Limited, Rathbones and Threadneedle
Investments.
Other charities to have successfully raised finance through
Retail Charity Bonds include Golden Lane Housing, the housing arm
of Mencap, and Hightown Housing Association.
For more information please see www.retailcharitybonds.co.uk
About the bonds
1. The bonds may not be suitable for all investors. Investors
should ensure they fully understand the risks and seek independent
financial advice.
1. Investors should note that the market price of the bonds can
rise and fall during the life of the investment and the price of
the bonds could fall below the issue price of GBP100.
2. In the event that Retail Charity Bonds PLC or Charities Aid
Foundation Limited defaults, becomes insolvent or goes out of
business, investors may lose some or all of their investment.
IMPORTANT INFORMATION
This announcement is an advertisement and is not a prospectus
for the purposes of EU Directive 2003/71/EC, as amended, and/or
Part VI of the Financial Services and Markets Act 2000 (the
"FSMA"). A prospectus dated 22 March 2016 (the "Prospectus") has
been prepared and made available to the public as required by Part
VI of the FSMA. Investors should not subscribe for any bonds
referred to in this announcement except on the basis of information
in the Prospectus. Full information on Retail Charity Bonds PLC and
the offer of the bonds is only available on the basis of the
combination of the Prospectus and this announcement which have been
published by Retail Charity Bonds PLC on the Regulatory News
Service operated by the London Stock Exchange.
The restriction on financial promotions contained in section
21(1) of the Financial Services and Markets Act 2000 does not apply
to this announcement by virtue of article 70(1A) of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005, as
amended.
The offering and the distribution of this announcement and other
information in connection with the offer in certain jurisdictions
may be restricted by law and persons into whose possession any
document or other information referred to herein comes should
inform themselves about and observe any such restriction. Any
failure to comply with these restrictions may constitute a
violation of the securities laws of any such jurisdiction.
This announcement does not constitute or form part of any offer
or invitation to sell, or any solicitation of any offer to purchase
any Bonds. Any purchase of Bonds pursuant to the offer should only
be made on the basis of the information contained in the prospectus
dated 22 March 2016 (the "Prospectus". The Prospectus is available
at the website of Retail Charity Bonds PLC and Charities Aid
Foundation as above and the website of the London Stock Exchange
plc (www.londonstockexchange.com/newissues).
March 22, 2016 09:23 ET (13:23 GMT)
The Bonds have not been and will not be registered under the
United States Securities Act of 1933 (as amended) (the "Securities
Act") and, subject to certain exceptions, may not be offered or
sold within the United States or to United States persons. The
Bonds are being offered and sold outside of the United States in
reliance on Regulation S of the Securities Act.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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