London Stock Exchange to waive admission fees for retail charity bonds

  • Two successful retail charity bond issues in the last 12 months, raising £38 million
  • Builds on launch of Retail Charity Bonds platform, an initiative from Allia, supported by London Stock Exchange and Canaccord Genuity
  • More than £4.6 billion raised on ORB since launch

 

London Stock Exchange today confirmed that it will waive admission fees for charity bonds that list on its Order book for Retail Bonds (ORB). ORB offers a transparent, electronic platform for the trading of retail bonds, with 50 dedicated issues raising more than £4.6 billion since its launch five years ago.

A new issuing platform for charities, Retail Charity Bonds, was launched in July 2014. An initiative of Allia, a UK charity and social investment specialist, in association with Canaccord Genuity, the platform helps provide established UK charities with affordable access to the retail bond market. London Stock Exchange has since welcomed two retail charity bonds raising £38 million.

Confirmation of the fee waiver was made ahead of an event, being hosted this week by Allia and London Stock Exchange, for charity leaders and their advisers.

Gillian Walmsley, head of fixed income UK at London Stock Exchange said:
“ORB has been a great success for corporate issuers, providing an alternative, flexible source of funding. The Retail Charity Bonds platform has opened up the market to charities with smaller financing requirements, and we’re delighted to add our support to make the platform more affordable for charities in to access the finance they need to deliver their mission.” 

Tim Jones, Chief Executive of Allia noted:
“There are many charities in the UK with strong business models and plans to grow to increase their impact. Last year we launched Retail Charity Bonds, with the support of London Stock Exchange and Canaccord Genuity, to enable these charities for the first time to raise funds from retail and institutional investors through a listed, tradable bond. This waiver of the admission fee sends a clear message that charities are welcome on ORB.”

 

- Ends -

For further information:
Ed Clark                 +44 (0)20 7797 1222
Lucie Holloway        newsroom@lseg.com

 

Notes to editors: 

About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) is a diversified international market infrastructure and capital markets business sitting at the heart of the world's financial community. The Group can trace its history back to 1698. 

The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, a pan-European equities MTF. It is also home to one of the world’s leading growth markets for SMEs, AIM. Through its platforms, the Group offers international business and investors unrivalled access to Europe's capital markets. 

Post trade and risk management services are a significant part of the Group’s business operations. In addition to majority ownership of multi-asset global CCP operator, LCH.Clearnet Group, LSEG operates CC&G, the Italian clearing house; Monte Titoli, the T2S-ready European settlement business;  and globeSettle, the Group’s newly established CSD based in Luxembourg. 

The Group is a global leader in indexing and analytic solutions. FTSE and Russell Indexes offer thousands of indices that measure and benchmark markets around the world.  The Group also provides customers with an extensive range of real time and reference data products, including SEDOL, UnaVista, Proquote and RNS. 

Following the acquisition of Russell Investments, LSEG conducted a comprehensive review of the investment management business to analyse its strategic fit with the Group. This was concluded in February 2015, and LSEG is now exploring a sale of the business in its entirety. 

London Stock Exchange Group is a leading developer of high performance trading platforms and capital markets software for customers around the world. In addition to the Group’s own markets, over 35 other organisations and exchanges use the Group’s MillenniumIT trading, surveillance and post trade technology. 

Headquartered in London, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 4,700 people. 

Further information on London Stock Exchange Group can be found at www.lseg.com