The Oxford English Dictionary says that an orb is “a sphere or globe” or “any heavenly body, [such] as the moon or sun”. It is an apt moniker, therefore, for the London Stock Exchange’s Order book for Retail Bonds, which has been glowing as an alternative source of company finance amid the dim world of bank lending.

Celebrating its third anniversary this month, the Orb has helped UK companies raise more than £3bn in debt finance from retail investors to date, with over half of that figure in 2012 (see chart).