Tue, 05/02/2013 - 10:34
Law firm Winckworth Sherwood has advised B3Living on its recently completed GBP68m listed secured bond issue.
B3Living, formerly Broxbourne Housing Association, manages 4,334 houses in Hertfordshire’s Lee Valley. The secured bond issue will provide additional funds to finance the development of much needed homes for low-income families and key workers.
The secured bond has a maturity of 25 years and was priced, following a competitive bidding process, at a coupon of 4.823 per cent. It was taken by a single investor.
Winckworth Sherwood’s banking and finance team was the sole legal adviser to B3Living with Santander appointed as arranger.
The Winckworth Sherwood team was led by Louise Leaver (pictured), partner and head of housing finance, and assisted by partners Patricia Umunna, James Duncan and Keith Jenkins.
Leaver says: “We are delighted to have acted for B3Living on its debut bond issue. The success of this transaction reflects the fact that mid-level large scale voluntary transfer (LSVT) housing associations can raise finance on the bond markets at attractive rates.”
John Giesen, chief executive of B3Living, says: “This is good news for our homes, communities and business. We are seven years old this month and are now strongly placed to build on our successes to date and continue with our vision creating great places where people want to live.”
Wed 16/09/2015 - 10:21
Wed 16/09/2015 - 10:13
Wed 16/09/2015 - 10:03
Wed 16/09/2015 - 09:58
Wed 07/10/2015 - 09:45
Thu 01/10/2015 - 09:58
Thu, 08/Oct/2015 - 14:38
Thu, 08/Oct/2015 - 14:32
Thu, 08/Oct/2015 - 14:26
Thu, 08/Oct/2015 - 14:23
Thu, 08/Oct/2015 - 14:21
Thu, 08/Oct/2015 - 14:19