The Alnwick Garden Trust raises £10million with charity bond issue

Investors have raised £10million for The Alnwick Garden Trust to help it build on its current offer.

Monday, 16th March 2020, 5:20 pm
Updated Tuesday, 17th March 2020, 7:02 pm
The Alnwick Garden.
The Alnwick Garden.

A charity bond offer of 5%, due 2030, closed a week early after raising £10million during the most volatile period in the markets since the financial crisis.

A further £8 million of ‘retained bonds’ will be issued which can be sold at a later date to raise additional funding for The Alnwick Garden Trust as required.

Mark Brassell, chief executive of The Alnwick Garden Trust, said: “The Alnwick Garden Trust has made a tangible positive impact since its establishment, and we are very encouraged by the reception we have received from the investor community for our charity bond

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The Elderberries in The Alnwick Garden.

“The funds raised will enable us to further our charitable causes which directly enhance the lives of many thousands of people who visit, interact or work at the Alnwick Gardens.”

Henrietta Podd, director debt capital markets at lead manager, Allia C&C, added: “The success of this latest charity bond, the only non-sovereign sterling bond closed in last week’s exceptionally challenging financial markets, illustrates the continued demand for investments which make a positive social impact.

“We are thrilled to have been able to support The Alnwick Garden Trust in raising this funding to support the many people who benefit from the Gardens and the Charity’s programme of activities.”

The venue already attracts 350,000 people a year to view highlights such as the Grand Cascade, Poison Garden and the largest Taihaku Cherry Orchard in the world.

Lilidorei is expected to be one of the largest play structures in the world.

However, there are hopes it will become a year-round attraction, bringing in an extra 250,000 visitors a year with the addition of Lilidorei, one of the biggest play structures in the world. The charity has already secured £5 million in grant funding towards the project from the Borderlands Growth Fund

The income generated by the Gardens enables the charity to deliver a range of community programmes that directly tackle isolation and loneliness, unemployment and exclusion, and support young people to make positive life choices and increase their chances of realising and achieving their aspirations.

The charity’s longest running programme, the Elderberries, supports over 1,000 elderly people each year.