London Stock Exchange welcomes Hightown Housing Association to celebrate the Retail Charity Bond listing
London Stock Exchange today welcomes Hightown Housing Association Ltd and its Chair, Bob Macnaughton, to open its UK Markets. This marks Hightown's recent Retail Charity Bond being listed on the London Stock Exchange's Order Book for Retail Bonds through the Retail Charity Bonds platform.
This is the second time that Hightown has issued a bond through the platform created by Allia, in association with Peel Hunt LLP. The £38 million bond is issued by Retail Charity Bonds plc and loaned to Hightown.
Hightown operates in Hertfordshire, Buckinghamshire, Bedfordshire and Berkshire and manages almost 6,000 affordable homes as well as providing care and support to a range of vulnerable people, such as people with learning disabilities, mental health issues or people facing homelessness.
The retail charity bond offer for Hightown closed early having raised £31.5 million with £6.5 million of retained bonds. This bond plus the bond issued in 2015 brings the total amount raised for Hightown through the platform to £58.5 million (plus the retained bonds). The funds will be used to support Hightown's development programme, which will provide over 1,000 new affordable homes in the next two years.
Hightown Chief Executive David Bogle said:
"We're delighted the bond issue has been so successful and would like to thank the investors, Allia and our advisors for their support for our work. The funds will help us to build affordable homes for people who are homeless or cannot afford to buy or rent at market prices."