Centrus arranges a £100m sustainability-linked RCF and £110m of private placement facilities for VIVID

About VIVID

VIVID is a leading provider of affordable homes and manages 34,000 homes for 74,000 people across Hampshire, Surrey, Berkshire and West Sussex. When VIVID formed in 2017 they were determined to increase the supply of new homes. 

In 2022-23 VIVID built 1,390 new homes, making them the sixth largest developer of new homes amongst housing associations in England.

Transaction Overview

In April 2023, Centrus acted as advisor to VIVID on a new £100m Sustainability Linked Facility from ABN AMRO. The facility is unsecured and has metrics linked to VIVID’s environmental, social and governance (ESG) work, helping incentivise a positive impact for VIVID’s customers and communities.

In July 2023, Centrus also supported VIVID in arranging two private placements with a combined value of £110m. The unsecured shelf facilities were agreed with North American funds and accounts managed by Sun Life Capital Management and Pacific Life. The Pacific Life shelf facility is for £60m and the Sun Life Capital Management clients’ for £50m. 

Centrus Solution

Centrus advised VIVID throughout the process, identifying banking partners who were able to provide the flexibility, relationship and breadth of products that VIVID require for future growth. 

Access to this funding will enable VIVID to draw funds as and when needed to help achieve its desire to increase the supply of energy efficient, affordable homes. 

“We’re really excited to be developing new relationships with European and North American investors: ABN AMRO, Sun Life and Pacific Life. By agreeing these facilities we’ll be able to access funds with greater agility. This will provide additional liquidity to the group. 

I am grateful for the support and advice from the team at Centrus in arranging these facilities.”

Jonathan Roberts, Group Treasurer – VIVID 

“We are delighted to have supported VIVID by arranging these facilities. These transactions represent the start of new relationships between VIVID and these 3 institutions, helping further diversify and enhance VIVID’s already significant lender base.” 

Scott Douglas, Director – Centrus

For more information, please contact Scott Douglas

Back to Credentials

• 
• 
•