Platform Housing Group issues second sustainability bond
Posted 08.04.24
Platform Housing Group: Further reading
Platform Housing Group has issued a £250 million bond, which has a 26 year maturity and was priced at Government gilts plus 0.83 per cent, producing a coupon and yield of 5.342 per cent.
There was significant demand for the transaction, with initial order books just under four times over subscribed and more than 50 investors participating.
Proceeds will be used in accordance with Platform's Sustainable Finance Framework to fund the development of new housing that qualifies as 'Green Buildings' and 'Affordable Housing'.
Ben Colyer, Corporate Treasury Director at Platform Housing Group, said : "The transaction will complement the £275 million sustainability linked revolving credit facilities arranged earlier in the year and means that just under half of Platform's £2.2 billion debt portfolio is now explicitly supporting our sustainability objectives."
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Clarion announces new banking partnership with ABN AMRO Bank
Posted 16.04.24
Clarion Housing Group: Further reading
Clarion Housing Group has agreed a new £150 million credit facility with ABN AMRO Bank.
The new facility will assist Clarion in delivering more homes to those who need them most.
ABN AMRO and Clarion will seek to agree a set of sustainability Key Performance Indicators (KPIs) for the facility in the coming months. These KPIs will be closely linked to Clarion's Sustainability Strategy and its Climate Transition Plan, which the Group intends to publish later this year.
Where Clarion achieves the KPIs, it will make a saving on the facility, which it will use to directly support the work of its charitable foundation, Clarion Futures.
Last year, Clarion Futures helped over 2,000 people secure employment and has helped nearly 6,000 people access training. It also awarded nearly £600,000 in grant funding to organisations -including food banks, community groups and local charities.
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Vivid secures a new sustainability linked facility
Posted 18.04.24
Vivid Homes: Further reading
VIVID has continued using its Environmental, Social, and Governance (ESG) credentials to attract investment, announcing a new £75 million Sustainability Linked Facility 10-year term facility from Nationwide.
This new facility allows Vivid to continue at pace to improve existing homes and build new energy efficient homes.
The loan has key performance indicators to reinforce Vivid's commitment to meeting housing need in a sustainable way.
In 2022-23 Vivid built 1,390 new homes, making it the sixth largest developer of new homes amongst housing associations in England.
A key ESG metrics within this loan is maintaining G1 rating (governance, risk management and internal control) with the Regulator of Social Housing. This has recently been reconfirmed.
This follows an in-depth assessment by the regulator and is the highest governance and financial viability rating that can be awarded.
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JV North warns of housebuilding slowdown without Affordable Homes Programme funding certainty
Posted 22.04.24
JV North: Further reading
JV North is warning housebuilding will slow unless funding certainty is given beyond the current Affordable Homes Programme end date.
With less than two years left of the 2021/26 Affordable Homes Programme, JV North says developments of over 50 homes or those that take longer than 12 months are now at risk.
Usually government-funded programmes overlap with the last two running from 2018 to 2021 and then 2021 to 2026 allowing housebuilding to carry on unabated.
With no announcement made in last month's Budget, JV North - which comprises of 13 housing association and local authority members from across the North West - says funding certainty is vital for board approval at a time when financial viability is under heavy scrutiny.
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