East London Bond Series II
Overview
The East London Bond is issued by Citylife and is a catalyst for social and economic renewal in some of the poorest, most deprived communities in England. A proportion of the money raised from the Bond will go to the Bromley by Bow Centre and Community Links, two nationally-acclaimed charities that have led innovative and successful approaches to regenerate East London. The remainder of the money raised from the Bond will be lent by the Bond issuer Citylife to Places for People Homes (PfPH), a registered provider of social housing, under a loan at a commercial rate of interest. When PfPH repays the loan to Citylife it will do so together with an amount in respect of interest, and the repayment will allow Citylife to repay Bondholders in full. No interest will be paid on the Bond. East London Bond - Series II: Investors in the Series II Bond are soley reliant on PfPH repaying the loan in order to repaid in full at maturity of the Bond. However, since there is no additional bank guarantee on the proportion of the loan which backs the Series II Bond, no guarantee fee is deducted from the proceeds of the Series II Bond which goes to the charities. The subscription closing date is 30 April 2010 (unless extended by the Directors of Citylife). Potential investors should note that no financial information in respect of Citylife will be accessible via the Sharemark website but that an annual Bond Review will be published in the future. Further details and application information are available at www.eastlondonbond.org. Investments in the East London Bond must only be made on the basis of the offer document and relevant background information.
Historic Prices
No auction history
| Next auction date | Indicative price | Highest bid (p) | Lowest offer (p) | Market type | Auction frequency | Next auction time |
| 29 Oct 10 | n/a | n/a | n/a | Open | Quarterly | 4:00pm |
Announcements
| Title | Date |
| Opening Up of the Secondary Market | 29 Jul 10 |
| East London Bond June Newsletter | 14 Jun 10 |
| East London Bond April Newsletter | 08 Apr 10 |
Report & accounts
| Title | Date |
| Important Information for Investors | 21 Dec 09 |
Fundamentals
| Year ending | Sales (£m) | Pre-tax profit (£m) |
| n/a | N/A | N/A |
Directors
| Name |
| Ram Gidoomal |
| Charles Rosenmyer |
| Steve Mather |
| Paul Doye |
| Isla Smith |
Website
www.citylife.org