The European Investment Bank’s (EIB) vice president has said it is still ‘business as usual’ across its £1bn UK social housing loan pipeline, irrespective of the recent vote in the House of Commons to trigger Article 50 and commence ‘Brexit’ negotiations.
The social housing sector had ‘a solid year of investment underpinned by strong in-year financial performance’ in 2016, according to the regulator’s latest analysis of accounts.
Profits on market sale rose by 68 per cent in the last financial year, but over three quarters of the surplus was generated by just 10 providers, according to the regulator.
The world’s biggest investment manager, Blackrock, is ‘open for business in social housing’ and looking to directly fund a broader range of housing associations after making its first bilateral loan in the sector.
Trafford HT deal sees first bilateral loan to a housing association by Blackrock, and enables the north-west group to on-lend up to £100m for activity such as its L&Q joint venture.
Coastline Housing has raised £25m through a 10-year private placement at an all-in cost of 3.07 per cent.