THE ROYAL MASONIC BENEVOLENT INSTITUTION CARE COMPANY ROADSHOW

[formoverfunction]

THE ROYAL MASONIC BENEVOLENT INSTITUTION CARE COMPANY ROADSHOW

THE ROYAL MASONIC BENEVOLENT INSTITUTION CARE COMPANY ROADSHOW

Roadshow Announcement

RCB Bonds PLC (the "Issuer") today announces a roadshow together with The Royal Masonic Benevolent Institution Care Company (the "Charity") to meet with professional fixed income investors.

A sterling bond will follow, subject to market conditions.

[bruncher]

https://www.investegate.co.uk/rcb-bonds ... 00040137P/

No dates, no locations, the 'news' is that they might or might not issue a bond.

[formoverfunction]

https://www.investegate.co.uk/rcb-bonds ... 52352806O/

https://www.investegate.co.uk/rcb-bonds ... 52162800O/

I'm not sure I kept my original notes on this, but it's likely I'll take the min amount for the last bit of this year's ISA.

[formoverfunction]

Information booklet https://rcb-bonds.com/wp-content/upload ... 300123.pdf

[morgleman]

Looked at the prospects and risks.
The Bonds are not being issued by the Masonic Society but by RCB bonds
RCB is a bond issuing platform enabling charitable organisations to raise medium or long-term, fixed-rate debt through a secured or unsecured loan.
It has no assets so if it goes bust or They do not receive the income from the Masonic Society to pay out the Dividends, they have nothing to fall back on

An element of the Charity’s income is or may be derived from publicly funded sources. There can be no assurance that the level of public sector funding made available for care services will continue at its current level. Local authorities may reduce fee levels payable to operators or reduce the number of residents they can fund, which could have an impact on income generated by the Charity.

The Charity faces challenges in recruiting and retaining qualified staff. Lack of suitable staff may result in increased use of more expensive agency staff. Additionally, any increases to the national minimum living wage in the future may also result in increased costs over and above the usual inflationary levels.

The Charity’s fee income could be adversely affected by new reforms due to be implemented in 2025, as set out in the “Build Back Better: Our Plan for Social Care” government paper and revised operational guidance published on 7 July 2022.

The Bonds are not protected by the UK Financial Services Compensation Scheme

[hiriskpaul]

I confess to knowing nothing about them, but anything with the words "Royal Masonic" in the title is bargepole territory for me. My advice would be to change their name.

[formoverfunction]

https://www.dailymail.co.uk/money/inves ... eturn.html

"MIDAS SHARE TIPS: Royal Masonic Benevolent Institution Care Company bond set to pay 6.25% return

Midas verdict: RMBI has a long and proud history, provides top quality care and benefits from a strong and robust parent. Offering annual income of 6.25 per cent, the bonds are a buy – and the funds raised will do good as well."

So far this is the only press commentary I've seen. Although I haven't been looking in any active way.

I hold several other RCB Bonds. Golden Lane, Greensleeves and others. In this case a small position to fill out my ISA.

I do quite enjoy reading the impact reports when they get issued. I did work in the charity sector for a while, when I finished in PE, not a thing I would want to try again.

I've had a look through the care commission reports and they look very impressive. The long history is almost 200 years (if memory serves me well.) I have to admit I like family businesses and anything thing that'a demonstrated "antifragile" longevity.

So overall, I'm pretty comfortable with the issuer, charity and concept of charity bonds. In this case the lack of security isn't an issue for me.

[BullDog]

Probably similar to what some people were saying about Wasps a fairly short time ago. Not for widows or orphans in my opinion.

[formoverfunction]

I never invested in Wasps, although I did invest in EROS successfully.

So I can't make any comparison with Wasps. I did look at Wasps once, long time ago, but thought better of it. It always looked like a car crash waiting to happen in my opinion.