Golden Lane Housing has been shortlisted for the Social Investment Award 2015 for the GLH Retail Charity Bond.
The pioneering Bond was the first ever charity bond to be listed on the London Stock Exchange in July last year and raised £11 million, closing early and heavily oversubscribed after less than two weeks. It was issued through the Retail Charity Bonds platform, created by Allia, a UK based charity and specialist in social investment, in association with Canaccord Genuity to raise unsecured loan finance for charities.
Golden Lane Housing is using the proceeds to buy and specially adapt the much needed accommodation for over 100 people with a learning disability in their community who are supported by Mencap.
Alastair Graham, director of GLH, said “We are thrilled to be shortlisted for the Social Investment Award. Raising capital through the bond is enabling us to purchase and adapt 30 fabulous houses and bungalows across the country that meet the needs of over 100 people with a learning disability supported by Mencap. Providing the right environment helps people to develop and learn new skills to gain a greater independence both in the home and community. These properties will provide a lasting legacy for generations to come.”
Tim Jones, chief executive of Allia commented: “Allia created the Retail Charity Bonds platform to provide charities with a new source of loan finance to enable them to deliver their mission. So we are really delighted that the first bond issued by the platform for Golden Lane Housing has been shortlisted for Social Investment Initiative of the year. It’s a great recognition of the innovation and effort behind the creation of Retail Charity Bonds, and we look forward to seeing many more charities benefitting from the platform.”
All the winners will be announced at the Third Sector Awards ceremony which will take place on 24 September at the Grand Connaught Rooms in London.