Provide homes for people with a learning disability

Thera Trust

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"Previously, Sam (not his real name) lived in a small nursing unit which was closed suddenly; this was very unsettling for him. We worked closely with Sam and his sister to find a suitable property near to where his sister lived. 

He needed a property that was accessible and suitably adapted to meet his mobility needs, now and in the future. 

Since moving into his new home, Sam has built some really close relationships with his staff team and with the two people he lives with. He really enjoys spending time in the garden and he loves playing games, including dominos and giant snakes and ladders."

Thera Trust

Thera is a national charitable group that provides care, support and services to people with a learning disability who have a diverse range of needs, interests and ambitions. Many of the people that Thera supports have complex needs or have previously lived in institutional settings for a long time. The charity supports everyone in a person-centred way so that they can live an ordinary life.

Thera's vision is that people with a learning disability can be leaders in society, which is why Thera has 13 paid director roles for people who have lived experience of learning disability, as well as 14 voluntary director roles. These roles ensure that Thera remains focused on providing high quality support which meets people's needs.

Thera has been helping people with a learning disability to live the life they choose for 22 years. The charity supports over 3,000 people, works in around 80 local authority areas across England, Scotland and Wales and for the year ending 31 March 2020 had an income of £72.5 million.


The bond offer

This is the third time that we’ve partnered with Thera Trust to raise capital through a bond. Since 2015, the charity has increased the number of people for whom it has provided a home from 48 to 166 individuals.

Thera’s strategy is to continue its charitable impact by providing more tailored accommodation to people with a learning disability over the next five years. They plan to do this by purchasing and taking out long-term leases on property.

The capital raised from this bond offer will play an essential role in helping them deliver on this strategy. It will provide enough capital to enable them to purchase up to an additional 10 homes for around 15 people and some of the finance needed too for their day-to-day operations.


IFISA eligible

Thera Trust bonds are eligible to be held in a Triodos Innovative Finance ISA (IFISA). The IFISA is a type of ISA that allows you to hold crowdfunded debt securities such as this bond. As with all ISAs, there are eligibility criteria and you receive interest tax-free.

To invest in the Thera Trust bonds through a Triodos IFISA, select the 'Invest through IFISA' option. This selection will add to your current IFISA or will open a new IFISA if you haven't previously opened one.


Transferring an existing ISA

If you want to invest by transferring an existing ISA to a Triodos IFISA you must first request the transfer. You can do this under ‘Account’ once you’ve become a registered user of the platform. Your ISA transfer must be competed first, before you make your application for bonds.

Key terms

Issuer

Thera Trust

Target amount

£5 million

Term

5.5 years, repayment due on 31 March 2026

Minimum investment

£100

Interest

5.25% gross per year payable on 31 March each year (paid net of UK basic rate tax unless held in an IFISA). Payment of interest and repayment of capital are not guaranteed.

Unsecured

The bonds are unsecured so bondholders will rank equally with Thera Trust’s other creditors and behind any secured creditors and preferential creditors on insolvency.

Transferability

Bonds are transferable and may be sold on a matched bargain basis, however it may be difficult to sell your bonds and you may not get back the full amount invested. Investors should therefore be prepared to hold the bonds for their full 5.5 year term.

Minimum raise

£1 million. If less than £1 million is raised, monies will be returned to investors with no accrued interest.

Timetable

First close on 15 September, interim close on 15 November and final close on 31 December (unless fully subscribed earlier). Bonds are allotted 15 days after each close and investors start to accrue interest from that date.

Capital at risk - warning

Past performance is not an indication of future performance. Capital is at risk and returns are not guaranteed.

Please note that payment of interest and capital is not guaranteed and is dependent on the continued success of Thera Trust's operating model.

Download the offer document by logging in or registering.

41%
  • £2,073,237 of £5,000,000
  • 36 days left
  • 41% raised
Minimum investment

£100

Term

5.5 years

Interest

5.25% per year

Tax relief

IFISA eligible

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