Updated 26.07.13
East London-based Association Issues Bond
The 8,000-home Poplar Harca has issued a £140 million bond to refinance its existing bank debt. The 30-year bond has a fixed interest rate of 4.%, with the yield priced at 150 basis points above the cost of government borrowing.
Moody's rating agency gave the bond an A3 rating, its seventh best rating, and revealed that the funding was intended to refinance £133 million of outstanding bank loans and remove the restrictive loan requirements associated with early stage stock transfers. The agency added that the restrictions being lifted include bank approval of the business plan and limitations on additional borrowing.
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Roseberry and Raglan Associations Set To Merge
The boards at Rosebery Housing Association and Raglan Housing announced that they had agreed in principle to Rosebery becoming a subsidiary of Raglan.
Raglan manages around 13,000 affordable homes in some 100 local authority areas spread throughout the midlands and southern England. Rosebery has approximately 2,500 properties in Epsom and Ewell, with more in surrounding areas.
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PfP Acquires 654 Flats From Urban Splash
Places for People, which owns or manages 143,000 homes, has bought 654 flats from developer Urban Splash for £77 million.
The acquired portfolio includes dwellings in Manchester, Plymouth, Bristol, Bradford and Leeds.
The properties are for a mix of private and affordable rent and Urban Splash will be retained in a management capacity.
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Suffolk Housing Acquires Homes From Riverside
The Bury St Edmunds-based Suffolk Housing has completed the purchase of 428 affordable homes in Norfolk and Suffolk from Riverside Housing.
The £18 million deal has increased Suffolx Housing's portfolio by 23% and it now owns more than 2,600 homes.
The Association secured a £35 million funding package from Canada Life Investments and Lloyds Bank Commercial Banking in April.
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Housing Officer and Bailiff Shot Whilst Attending an Eviction
According to several reports, a housing officer and a bailiff have been shot while attempting to evict a tenant in South London. A second housing officer was also present.
Police officers and an armed response unit were sent to an address in Brixton, thought to be a property owned by Metropolitan Housing.
Metropolitan confirmed one of the victims is an income officer working for them. Her injuries and that of the bailiff are not thought to be life-threatening.
It was later reported that a 50-year-old man has been charged with three counts of attempted murder.
