Thera Trust brings in £1m from bond issued on Luxembourg stock exchange

The learning disability charity wants to bring in additional social investment of up to £5m, it says

Group has raised £1m through bond
Group has raised £1m through bond

The learning disability charity the Thera Trust has raised £1m from a bond issue on the Luxembourg stock exchange, and is aiming to bring in additional social investment of up to £5m.

The charity, which is the parent of a group of 11 companies and charities that provide support and advice to adults with learning disabilities in England and Scotland, last year issued a three-year bond paying a 3.5 per cent fixed interest rate. The £1m raised was drawn down by Thera last week.

The bond was issued in partnership with the social finance intermediary Investing for Good. The intermediary said it would continue to work with the charity on plans to raise up to £5m more through future bond or social investment programmes.

The charity had an income of £46.9m in the year to 31 March 2014 and employed 2,300 staff, its accounts show.

A statement from Investing for Good said: "The impact of the bond programme will be far-reaching and is expected to allow Thera’s beneficiaries to move house and engage more with their local communities, as well as to support specific initiatives such as Thera’s Dolphin's Den, which helps people with learning disabilities into employment or to start their own businesses."

The statement said that Thera was looking at bringing more companies into the group.

Simon Conway, a director at the Thera Trust, said: "We've been greatly heartened by investor interest in supporting us to enable people with learning disabilities to lead the lives that they choose, developing their independence and their presence in the communities in which they live."

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