Luke is editor of Social Housing
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Radian Housing Group and Bracknell Forest Homes have secured £114.5m via the UK government’s affordable homes guarantee scheme at a spread of 30 basis points over gilts.
Bringing together Affinity Sutton and Circle Housing meant getting 10 bank funders and £3.3bn of drawn debt ‘over the line’. Loan arrangements, covenants and documentation were ‘harmonised’, supported by the release and recharge of 31,000 properties used as security. Clarion is set to expand nationally, while growing its strategic partnerships and land acquisitions.
L&Q’s ‘pioneering’ £2.6bn refinancing included a new covenant package ‘more in line with the corporate market’ and to support its ambitions to deliver 100,000 homes. The group married banking loans with shorter-term sales activity and longer-term debt capital markets finance with housing for rent. It also saw L&Q crystallise its mark-to-market (M2M) position on its swaps.
- Fixing repairs failures ‘will not be limited by budget’, says Clarion CFO
- Merger work pays off for Sovereign and its lenders
- Your Housing plans bond to support £2.5bn off-site construction venture
- Getting in shape
- L&Q plans to deliver 25,000 PRS homes
- Yorkshire council pension fund invests £20m in social housing REIT
- Places for People completes Derwent takeover