Linklaters has advised the Joint Lead Managers in connection with The Church Commissioners for England’s, a Church of England investment foundation with over £10 billion in assets, debut issuance of £550 million public bonds, made up of a £250 million Sustainability Bond with a 10-year maturity and a £300 million conventional bond with a 30-year maturity.
The money raised will be invested on a long-term basis, enhancing the fund’s capital efficiency and offering the potential to generate additional value for the fund. The proceeds will be invested according to the Church Commissioners’ responsible investment approach, with the proceeds of the Sustainability Bond used solely to support existing and future eligible sustainable projects, as set out in the Church Commissioners’ newly established Sustainable Financing Framework.
BofA Securities, J.P. Morgan and Morgan Stanley acted as Joint Lead Managers in respect of the issue of the bonds. Linklaters advised the Joint Lead Managers on the transaction.
The Linklaters capital markets team was led by partner Elaine Keats. The core team included managing associate Johnny Davidson and associate Declan McGrath
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