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GlenWyvis
Distillery announce the release of two
new bond offers.
GlenWyvis
Distillery, a social enterprise which is
100% community owned and based in
Dingwall in Ross-shire, Scotland, has
released two new bond offers which will
deliver a fixed annual interest rate of
up to 6.25%.
The bond offers from GlenWyvis
Distillery have been released to allow
investors to capitalise on the Social
Investment Tax Relief (SITR) which was
extended by HMRC until 5th April 2023.
These bonds will therefore be eligible
for 30% tax relief (SITR), allowing
holders who are UK taxpayers to offset a
percentage of the purchase from their
tax liability.
The bonds, Series B and Series C, will
enable the GlenWyvis Distillery to raise
£1.5 million which will be used to
execute its long-term vision. Critical
to the vision is the ability to increase
spirit production and, in turn, increase
the stockpile of maturing spirit to
enable GlenWyvis Distillery to compete
in an international market and satisfy
demand for premium single malt Highland
whisky bottled at 10 years old or more.
GlenWyvis Distillery also aims to open a
visitor centre and bottling plant.
The details of the bond offers are as
follows:
Series B
This offer will attract a fixed annual
interest rate of 5.5% over five to seven
years.
Offered as unsecured loan notes in
multiples of £1,000, interest will be
paid every six months, and notes will be
eligible for redemption in three
tranches on the fifth, sixth and seventh
anniversary of issue (2028-2030).
Series C
This offer will attract a fixed annual
interest rate of 6.25% over eight to ten
years.
Offered as unsecured loan notes in
multiples of £1,000, interest will be
paid every six months, and notes will be
eligible for redemption in three
tranches on the eighth, nineth and tenth
anniversary of issue (2031-2033).
Speaking about the bond offers, David
Graham, Chairman of GlenWyvis Distillery
Community Benefit Society, said: "More
than 3,000 like-minded people invested
in GlenWyvis to create the first ever
100% community-owned distillery in 2016
and we are one of the largest registered
community benefit societies in the
United Kingdom.
"We have a clear vision and these bond
offers will provide the capital required
to execute the business plan to realise
our ambition. Our previous bond offer in
2021 was extremely popular and I am
confident that Series B and C offer a
competitive investment opportunity,
particularly if taken out before April
5th when the SITR comes to an end."
The bond offers are only open to
shareholders. However, interested
potential investors are encouraged to
consider becoming a member which can be
done via an online application for a
minimum shareholding of £250.
More details about the bond offer and
becoming a member of GlenWyvis
Distillery Community Benefit Society can
be found at https://www.glenwyvis.com/investment/
In 2021, GlenWyvis Distillery launched
Dingwall’s first whisky in almost a
century with its inaugural
three-year-old GlenWyvis Highland Single
Malt Scotch Whisky. Its second release
followed in 2022. The Distillery has
also won industry awards for its
GoodWill Gin.
This year, GlenWyvis Distillery
Community Benefit Society launched the
GoodWill Fund to benefit good causes in
the local community. Funded by 5% of all
online sales of GlenWyvis whisky and
gin, £10,000 was made available for
communities and organisations in
Ross-shire to apply for. A further two
rounds of funding will be launched
throughout 2023, making a total of
£30,000 available this year, with
further funding rounds being launched
each year.
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