London Stock Exchange celebrates 7 years of ORB

Today, London Stock Exchange celebrates the 7th anniversary of the Order book for Retail Bonds (ORB), its retail dedicated market giving retail investors access to gilts and bonds.

After 7 years, ORB has now established itself as a credible alternative funding source for a broad range of issuers, helping to raise £5.9 billion through 56 dedicated issuances since launch.

Issuance in 2016 amounted to £325m via 4 transactions, including a number of repeat issuers such as Places for People, issuing their 3rd retail bond, as well as Alpha Plus Holdings and Burford Capital, both coming to the market for the 2nd time. 

The Retail Charity Bonds platform on ORB also continues to go from strength to strength, enabling charities to access the capital markets: this year boasts the largest retail charity bond to date raised by Charities Aid Foundation, sized at £30m.

LSEG’s retail bond market continues to play an extremely important broader role in providing an alternative to bank debt. Companies need to have access to multiple and innovative financial tools if they are to grow, create jobs and support the overall UK economy. We remain committed to continuing to advocate for additional retail support in order to ensure ORB’s success.

We thank all of our partners who have supported ORB over the years. We look forward to further opportunities to work together.

John Barrass, Deputy Chief Executive of the Wealth Management Association said:

“The WMA has been delighted to support the development of the ORB since its inception in the UK and has greatly valued the increased transparency and better regulation of the secondary market in bonds that the platform, under the auspices of the LSEG, has brought.  We want to see improved retail participation in the bond market in general and ORB provides a real contribution in this area.  We will continue to work with the LSEG to discuss with regulators the best ways of achieving this objective and to promote use of the ORB to our members.”