Centrus advises Beyond Housing on first long-dated sustainability bond in the social housing sector

Transaction Overview

North East-based Beyond Housing has become the first social housing provider to successfully issue a long-dated sustainability bond (30 years).

The 15,000-home landlord, which operates in Tees Valley and North Yorkshire, attracted orders from more than 30 institutions, resulting in it being four times oversubscribed.

The 30-year bond comprises £165m of immediate draw-down and £85m retained at an all-in cost of 2.216 per cent.

In line with Beyond Housing’s Sustainable Bond Framework, the bond will be invested in the long-term strategic approach of the company in delivering positive environmental and social change for its customers and partners.

“At Beyond Housing we are committed to sustainability, and genuinely care about the work we do in supporting customers and communities and having a positive impact on their lives. This bond will enable us to invest in existing homes, making them more energy efficient and helping us move to become a carbon zero organisation. In addition, it will help us deliver our ambitious development programme, providing value for money and securing the company’s long-term plans.

Securing the first long-dated sustainability bond in the social housing sector is a landmark achievement for Beyond Housing and a testament to the work of our team in delivering exceptional financial and sustainability credentials.”

Rosemary Du Rose, Chief Executive – Beyond Housing

“It has been a pleasure working with the Beyond Housing team, helping them to achieve a fantastic result on their inaugural sustainability bond. The bond is the culmination of a refinancing strategy which sees Beyond Housing’s treasury portfolio restructured into a longer-term and lower-cost platform. Another key element of this transaction is the development of Beyond Housing’s new sustainable bond framework set in line with the UN’s SDGs – meaning more sustainable and climate friendly homes for Beyond Housing’s customers in the North East, helping to tackle both climate change and fuel poverty.”

Lawrence Gill, Director – Centrus

About Beyond

Beyond Housing is one of the largest registered housing providers in the North East and North Yorkshire. With its regional offices in Redcar and Scarborough, the organisation is responsible for the letting, management and maintenance of over 15,000 homes across the north east and North Yorkshire.

Beyond Housing is committed to going beyond the bricks and mortar to help its communities and region thrive. By providing quality homes people want to live in alongside valuable additional services delivered by passionate people who want to help, Beyond Housing contributes to the prosperity, wider regeneration and sustainability of its communities, creating neighbourhoods that will flourish well into the future.

Beyond Housing is a Community Benefit Society registered under the Co-operative and Community Benefit Societies Act 2014 and regulated by both the Homes and Communities Agency and the Financial Conduct Authority.

For more information, please contact lawrence.gill@centrusadvisors.com

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