Places for People have issued a 10 year Retail Price Index linked Sterling Bond on the London Stock Exchange's market for retail eligible bonds (ORB).
Chris Jones, Group Head of Tax and Treasury at Places for People, said:
"We're delighted with the support retail investors have shown in this issue. Over the last 9 months we have raised £180 million from the retail bond markets, demonstrating strong demand for investment in the housing sector, which has good credit credentials, stable cash flows, and strong financial viability.
"The retail bond market represents a new stream of finance for the housing sector, and is part of our longer-term funding strategy to diversify our investor base through the debt capital markets and to increase flexibility and responsiveness to access the financial markets by unsecured fund raising across a range of maturities.
"The proceeds raised by the RPI linked bond will be used to finance Places for People's future operations, capital expenditure and to refinance existing secured bank debt."
The Calico Group has received strong interest from potential partners to create an £88 million Joint Venture Company.
With more than 4,500 homes in ownership and management, Calico plans to set up a Joint Venture Company with an external partner to carry out investment work and house building for both itself and other clients over the next 10 years.
Responsive repairs and voids work will continue to be provided by its existing in-house workforce.
Michael Birkett, Calico's Chief Executive, said:
"It is critical we continue to adapt and respond effectively to our changing operating circumstances, and especially the tough fiscal environment.
"We're looking for an innovative partner to help deliver a quality service to Calico Homes, and strong commercial growth for the benefit of the Group."
The new company will be a subsidiary of Calico Homes Ltd and will become the fourth company in the Calico Group.
[Link2] Tenants Face 8 Per Cent Rent Hike
Just four of England's 50 largest social landlords are planning to protect tenants from significant rent increases next year.
Of the 21 largest stock-owning councils that responded to an Inside Housing survey, just three said they would not impose the maximum increase allowed, based on the retail price index as it stood last September, when it peaked at 5.6%.