The Church of England Pensions Board has issued a £50m fixed-rate bond to improve its housing offering to retired clergy.
Specialist residential property financer TradeRisks acted as corporate finance adviser for the CEPB bond issue which will replace short-term facilities.
The 30-year fixed-rate funding is repayable in tranches between 2044 and 2048 and complements the profile of the CEPB’s existing facilities. Funding was priced in April with £30m placed with a single institutional investor and £20m retained to provide the CEPB with flexible access to capital markets in the future.
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