RMBI to exit residential care sector

Summary by AI ^BETAClose X

RCB Bonds PLC announces that The Royal Masonic Benevolent Institution Care Company, the borrower of a loan secured by the 6.25% Sustainable Bonds due 2029, has decided to exit the residential care sector by selling its 15 care homes, which collectively offer 958 beds and employ approximately 1,500 staff. The sale process is being managed by Christie & Co, and the Charity intends to prepay the loan in full upon completion of the sale, which will trigger the redemption of all outstanding bonds at the Sterling Make-Whole Redemption Amount.

Disclaimer*

RCB Bonds PLC

25 February 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

THE ROYAL MASONIC BENEVOLENT INSTITUTION CARE COMPANY TO EXIT ITS OPERATIONS IN THE RESIDENTIAL CARE SECTOR

On 7 March 2023, RCB Bonds PLC (the "Issuer") issued The Royal Masonic Benevolent Institution Care Company 6.25% Sustainable Bonds due 2029 (the "Bonds") secured on a loan (the "Loan") to The Royal Masonic Benevolent Institution Care Company (the "Charity").

The Charity has today announced that, following a thorough review, it has reached a decision to sell its portfolio of 15 care homes (the "Homes") it operates across England and Wales and to exit its operations in the residential care sector.

The sale will be managed through Christie & Co, and the Charity anticipates that all of the Homes, which together operate some 958 beds and employ around 1,500 staff, will continue to operate as normal during this process.

The Charity has published an announcement which can be viewed on the website of the Issuer at https://rcb-bonds.com/wp-content/uploads/2026/02/RMBI-CC-NEWS-RELEASE-25.2.26.pdf.

While the Charity expects the sales process to take some time, it is the Charity's intention, following the sale of some or all of the Homes, to prepay the Loan in full at the Sterling Make-Whole Redemption Amount (as defined in the Conditions of the Bonds). Upon such prepayment, the Issuer will redeem all of the Bonds in accordance with Condition 10.2 of the Bonds at the Sterling Make-Whole Redemption Amount.

The Issuer will give not less than 15 nor more than 30 days' notice to the Bondholders prior to the date of redemption of the Bonds pursuant to Condition 10.2.

This announcement is released by RCB Bonds PLC and contains inside information for the purposes of Article 7 of the Market Abuse Regulation. The person responsible for arranging the release of this announcement on behalf of the Issuer is John Tattersall, Chair, RCB Bonds PLC.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END