Great Places Housing Group completes successful £75m bond issue

Great Places Housing Group has tapped its existing £200M bond for a further £75M. An additional £70M was also retained for future use.

Following a two-day investor roadshow last week, the tap was priced at a spread of 140bps and an all-in cost of 3.341%.

Great Places has more than 19,000 homes across the North West and South Yorkshire, and the money raised will fund its development programme over the coming months.

Great Places’ Executive Director of Finance, Phil Elvy, said: “I am really delighted with this outcome – we have achieved an extremely competitive price, on a par with some much larger RPs, demonstrating that we are a financially strong organisation that is an attractive proposition to the markets.

“I am pleased that the excellent relationships we have maintained with a range of investors since our debut issue in 2012 has continued. I’d like to thank all those involved in getting this deal over the line, both internally and externally – it was a real team effort.

“We can now focus on investing the new funding in the development of more homes to help address the country’s housing crisis and create vibrant, sustainable communities.”

< Go Back