Platform follows inaugural bond success with first Sustainability Bond
Platform Housing Group, the largest housing association in the Midlands, has today issued its first sustainability bond from their £1bn EMTN established earlier in the year.
The £250m bond has a 20-year maturity and was priced at Government gilts plus 0.85% producing a coupon of 1.625% and yield of 1.6%. There was significant demand for the transaction, with order books 3.5 times subscribed with multiple investors submitting bids.
Ben Colyer, Corporate Treasury Director said, “The strong performance of this issue is supported by our on-going engagement with the credit community and reflects Platform’s commitment to the provision of quality, affordable and sustainable social housing. The proceeds will also help fund continued investment in our existing homes as we improve the quality of service to our customers and the sustainability of our operations.”
Proceeds will be used in accordance with Platform’s recently published Sustainable Finance Framework to fund the development of new housing that qualifies as ‘Green Buildings’, with all new homes having an EPC of A or B, and almost all developments will be ‘Affordable Housing’.
Elizabeth Froude, Chief Executive at Platform Housing Group said: “We are incredibly pleased to have published our framework and issued this bond. We can now formally link our funding to the excellent projects we invest in, which help to make significant social and environmental improvements to the communities in which we operate, as we push ahead with our ambitious development and de-carbonisation strategies.”
Our Most Recent Financial Statements 2020-2021
After a year of great challenge and change we are proud to present our Financial Statements for the Year Ended 31 March 2021.
You will see we have kept a strong focus on maintaining the strong and stable finances of the organisation, a tight control on costs and the delivery of as many new homes as possible.
All in all despite many unforeseen changes of direction we have maintained a clear and forward direction of travel. The report gives insight into a stable but progressive business, which is still protecting its historic financial strength in order to allow it to provide more in the future.
Click the preview image or the following link to download a copy of: