Centrus arranges two private placement shelf facilities totalling £150m for Anchor

Transaction Overview

Anchor, England’s largest not-for-profit provider of housing and care for people in later life, has secured two new private placement shelf facilities totalling £150m from LGIM and Sun Life. The LGIM facility totals £100m and Sun Life facility totals £50m. £25m in aggregate was drawn at completion of the facilities with the remaining £125m available for general corporate purposes, including the development of additional homes, over the coming years.  

Anchor manages almost 55,000 homes for both rent and sale to those aged 55 and over, serving more than 65,000 residents. Anchor is looking to grow the number of energy efficient homes it provides through development and care home acquisition. Through its development programme, Anchor anticipates delivering an average of at least 500 homes a year over a rolling 10-year period in addition to growing the number of homes for people in residential care.

Centrus’ Role

  • Centrus acted as financial advisor and arranger on the transactions, working closely with Anchor from the formulation of refinancing and funding strategy, to executing of PP funding. 
  • Our team ran a wide investor marketing process allowing for targeted engagement while ensuring that the optimal terms were negotiated and received.
  • Centrus provided Anchor with broad project management and governance support, ensuring assurance throughout the process and that outcomes achieved aligned with overarching treasury objectives.

“These facilities will help us to continue to increase our provision of affordable and energy-efficient homes for people in later life. We anticipate ongoing strong demand as, with an ageing society, the need for such properties has never been greater.” 

Amanda Holgate, Chief Financial Officer – Anchor

We are delighted to have supported Anchor by arranging these £150m facilities from Legal & General Investment Management and Sun Life Capital Management. This transaction provides diversification to Anchor’s already significant financing base and allows them to quickly access additional long-dated capital markets funding at short notice, helping deliver more high-quality, energy efficient homes for those in later life.” 

Scott Douglas, Director – Capital Markets at Centrus

For more information, please contact Scott Douglas.

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