Greensleeves Care opens London Stock Exchange
Greensleeves Care has today opened the London Stock Exchange to mark the launch of trading in its latest retail bond. Despite the pandemic, the bond was heavily oversubscribed and closed early as private investors flocked to invest in the growing care provider’s successful long-term growth strategy and proven track record of delivery.
Greensleeves Care is an innovative and growing care provider that has doubled in size over the last seven years and now provides award-winning care to over 1,000 older people across 25 UK residential, dementia and nursing homes with numerous new homes in the pipeline.
Greensleeves Care has successfully raised £15 million through an issue of 5% bonds due 2030 by special purpose issuer Retail Charity Bonds PLC (‘RCB’). The £25 million issue included £10 million of retained bonds which may be sold at a later date and the proceeds advanced to Greensleeves Care.
The proceeds of the issue will be used by Greensleeves Care to pursue its strategy of sustainable development, expanding the organisation in an enduring and affordable manner. This is the second issue by RCB on behalf of the charity following the issue of £50 million of bonds in 2017.
Commenting on the success of the offer, Paul Newman, Chief Executive of Greensleeves Care, said:
“Today marks another landmark moment for our organisation. The issue was a great result for Greensleeves Care and strong recognition by the investor community of our business case, which is based around providing the best quality of care to our many residents across the country. The funds raised will support us to deliver our strategic ambition of further expanding and modernising the care and support we offer for the benefit of all our stakeholders, but most importantly our residents and their families.”
“I would like to thank everyone who has supported us with the recent issue, including our new investors and our advisors, but most of all I would like to thank the many staff who work in our homes for their unwavering commitment and support in delivering the very best care to our residents.”
Watch the video of that took place on 21st December 2020:
Advisors to the issue include:
Allia C&C – Manager
Bryan Cave Leighton Paisner LLP – Legal adviser to the Charity
Allen & Overy LLP – Legal adviser to the Manager and Trustee
FTI Consulting – Financial PR to the Charity
