Section: Housing Finance

Clarion Housing Group raises £350m in record breaking sustainable bond issue

Posted 17.01.20
Clarion Housing Group: Further reading

Clarion Housing Group has raised £350 million in a bond issue that breaks the record for the lowest interest rate for a primary bond issuance by a housing association.

The 15 year bond was priced at an all-in effective rate of 1.88% and was heavily oversubscribed, attracting £1.3 billion from well over 100 orders - including significant demand from European investors.

Demand for the bond was strengthened by Clarion's sector leading commitment to environmental, social and governance issues (ESG).

In November 2019, this commitment was recognised when Clarion became the first housing association in the UK to be accredited with the pan-European Certified Sustainable Housing Label.

The successful bond issue follows half year results in which the group confirmed it had completed a record number of new homes in the first six months of the financial year and increased investment on existing homes to £92 million.

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Reporting on January 2020

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