Youth CONNECT Bond
Youth CONNECT will work with young people who are leaving, or have had experience in, the state care system to build the key capabilities they need both to survive and thrive. Youth CONNECT will ensure that every young person participating in the program has access to safe, stable, affordable and appropriate accommodation. From there, the focus will be on working with the young person to develop their own safety net and community, and to build up the skills they need to operate in the world.
4% p.a. coupons will be paid at the end of Annual Periods 1, 2 and 3, approximately 12 months after the closing date, after which variable performance coupons will be paid at the ends of Annual Periods 4, 5, 6 and 7 which will provide for an overall internal rate of return for Bond Investors of between 5% to 11%, dependent on the cumulative performance of the Services against the agreed Outcomes. The maximum return for investors is an effective rate of 11% p.a.
Capital raised will be used to fund the program costs of the Youth Connect Program (“Program”) over 6.5 years. The Program will help up to 300 youth in Logan, Ipswich and Townsville who are at risk of homelessness, and who are referred to the service by the Queensland Government (“State”). The Program will focus on 15 to 18-year old’s exiting statutory care and young people aged 15 to 25 years exiting the youth justice system, adult corrections system or in contact with homelessness services, who have past experience with the child protection system.
- Churches of Christ in Queensland
- Social Outcomes Pty Ltd
- $5 million
- Sophisticated or professional
- 6.5 years
- Youth, homelessness