November 2018 Special Report Preview: Special report: Busy year sees explosion in deal activity, size and value
Sector’s build ambitions necessitate 68% rise in deal value and record-breaking bond issuance
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The total value of deals in the social housing sector has risen by almost 70 per cent, while the average deal size has jumped by nearly half, Social Housing has found.
Our round-up shows that £7.31bn-worth of deals was done in the 12 months between July 2017 and 2018, compared with £4.36bn in the two years between July 2015 and 2017.
The latest figures are based on 51 deals done in the sector, covering bonds, retail and retail charity bonds, private placements, taps of bonds, institutional investor loans and other similar deals. They do not include bank loans or deals made through bond aggregators.
The analysis shows that the average deal size for the year increased to £143.3m, up from £96.9m the year before – representing a 48 per cent jump.
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HAs’ funding advisors for bond issues/placements: July 2017–July 2018
| Bond issues | Private placements | Institutional loan | |||||
|---|---|---|---|---|---|---|---|
| Advisor | Number | Value, £m | Number | Value, £ | Number | Value, £m | Total value of fundings, £ |
| Link Asset Services | 1 | 145 | 1 | 40 | 0 | 0 | 185 |
| Centrus | 4 | 1,025 | 3 | 210 | 0 | 0 | 1,235 |
| JCRA | 2 | 500 | 4 | 335 | 0 | 0 | 770 |
| Rothschild & Co* | 6 | 2,150 | 0 | 0 | 0 | 0 | 2,150 |
| Savills | 2 | 530 | 3 | 135 | 0 | 0 | 665 |
| Traderisks | 1 | 250 | 5 | 511 | 0 | 0 | 761 |
| ATFS | 0 | 0 | 2 | 130 | 0 | 0 | 130 |
| DTP | 0 | 0 | 1 | 25 | 0 | 0 | 25 |
| None given or n/a | 10 | 835 | 5 | 415 | 1 | 70 | 1,385 |
| Total | 26 | 5,435 | 24 | 1,801 | 1 | 70 | 7,306 |
Note: Bond issues include retail, retained and charity bonds. *Newbridge Advisors acted on £300m Southern bond Source: Various, including housing associations and advisors
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