The Church of England Pensions Board (“the Board”) today announced that it has issued £100 million of bonds, giving it access to long-term finance to purchase additional retirement properties, which will secure the future of clergy housing in retirement.
The bonds are repayable in tranches between 2038 and 2048 and were issued through a special purpose vehicle, CHARM Finance plc. £70 million of the bonds were placed immediately, and the remaining £30 million retained to provide quick access to the capital markets if required in the future.