A £20 million bond offer for The Royal Masonic Benevolent Institution Company (RMBI Care Co) has closed after being fully subscribed.

The early closure of the bond offer was announced by RCB Bonds PLC, a special purpose issuing vehicle helping charities and ethical companies raise debt finance.

The offer of 6.25% sustainable bonds due 2029, launched on 30 January, was managed by Allia C&C. The bonds will be issued on 7 March and admitted to trading on London Stock Exchange. This will be the 13th successful series of bonds to be issued by RCB since it was launched in 2014, taking the total amount issued through the platform to nearly £400 million. 

Adrian Bell, chief executive of Allia C&C, said: “The success of this offer demonstrates the continued demand for high quality investment opportunities with positive social and environmental impact.

“As with all RCB bonds, this has been a great team effort with support from A&O, BNY Mellon, M&G Trustees, FTI and of course the stockbrokers, wealth managers and institutional investors and their clients whose investment helps to deliver a range of essential services.”

Mark Lloyd, managing director of RMBI Care Co, said: “RMBI Care Co is delighted with the success of the bond offer and would like to thank the team at Allia C&C, who have done a tremendous job for RMBI Care Co. The fully subscribed offer will allow us to progress with the continued modernisation of our care home portfolio in the provision of dementia care, which is great news with plans already in place for our next scheme.”

The bond issue will be used to continue RMBI Care Co’s programme of investment in its portfolio of homes.