Golden Lane Housing Bond
Bond
Creating greater access to housing for people with a learning disability
Golden Lane Housing is a subsidiary of Mencap, one of the UK's largest charities. They provide specialist housing and support for people with a learning disability. They are unique in the way they give their tenants the opportunity to make choices about where, how and with whom they wish to live their lives. They have built a £74 million freehold property portfolio (at cost) and house and support over 1,100 tenants with a learning disability.
Summary
Golden Lane Housing 2013 4% Bond Issue
Golden Lane Housing Ltd, (GLH), have launched an investment opportunity to help tackle the chronic shortage of housing for people with learning disabilities.
Social Impact
Golden Lane Housing is a subsidiary of Mencap, one of the UK's largest charities. They provide specialist housing and support for people with a learning disability. They are unique in the way they give their tenants the opportunity to make choices about where, how and with whom they wish to live their lives. They have built a £74 million freehold property portfolio (at cost) and house and support over 1,100 tenants with a learning disability.
Financials
- Amount - £10 million
- Term - 5 years (repayable in full on 30 September 2018 subject to early repayment at the option of the Charity)
- Interest - 4% gross per annum - fixed and payable annually.
- GLH's annual report will provide specific details of the social impact generated by the capital raised through the Bond issue.
- Minimum investment - £1,000*.
- The Offer will close on the earlier of the Maximum Subscription being reached or 12.00 noon London time on 28 June 2013 unless extended by GLH in its sole discretion.
- The Bonds are an unsecured investment meaning your capital is at risk.
- A Net Asset Covenant contained within the Bond instrument.
- Option for Bondholders to donate their interest to the Charity to allow them to invest more in pursuing their mission.
- An investment in a bond instrument of this type is speculative and involves a degree of risk.
- The Charity's ability to repay the Bond on 30 September 2018 or at all is dependent on the continuing success of its business model and planned means of refinancing.
You can download the Investment Memorandum here.
* Notes:
SharedImpact is able to reduce the minimum amount for this investment down to retail levels by aggregating the support of our account-holders.
By investing via SharedImpact, returns are made to your SharedImpact account, from which they can be deployed to further charitable causes, but not returned to you personally.
