Hightown board, staff, investors and advisors have celebrated the launch of the £27 million Retail Charity Bond by opening the market at the London Stock Exchange. The event was to mark the Hightown retail charity bond being listed on the Exchange’s Order Book for Retail Bonds (ORB).
The money was raised to support Hightown’s affordable housing development programme in Hertfordshire, Buckinghamshire and Bedfordshire. The bond proved so successful that the offer closed earlier than expected.
It is the second bond to be issued through the Retail Charity Bonds platform created by Allia, the charity that specialises in developing social investment opportunities, in association with global investment bank Canaccord Genuity.
Hertfordshire-based Hightown has raised the cash to support its affordable housing development programme Hightown Chief Executive David Bogle said: “Opening the market at the London Stock Exchange capped an exciting few weeks and was a fitting way to celebrate the highly successful bond launch. Affordable homes are in very high demand in our area and these funds will provide many homes to those who need them.”
About Retail Charity Bonds
Retail Charity Bonds is a platform that issues retail eligible bonds for UK charities. It is an initiative of 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.