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.
Eighteen months of merger discussions have laid the foundations for a more resilient Sovereign that remains committed to its core geography and purpose, according to its chief financial officer.
Your Housing Group (YHG) is looking at issuing a bond to support a £250m investment in a ground-breaking off-site construction joint venture (jv).
A Yorkshire council pension fund has bought £20m of shares in the UK’s first social housing REIT.