Peterborough’s Accent Housing issues £225 million bond to improve services
A Peterborough housing association has issued a £225 million public bond as it looks to raise cash to fund homes and services.
Accent Housing, based in Stuart House, St John’s Street, which has 5,000 residents, encouraged investors to buy into the 30 year bond with an interest rate of 2.625 per cent.
Accent chief executive Paul Dolan said: “This is a fantastic outcome. It has exceeded all our expectations and it will help us improve the homes and services we provide across Peterborough.”
Accent executive director of ICT and finance, David Royston said: “This is a brilliant result after what has been many months of hard work to make sure we are in the best possible position to help make our mark on the country’s housing crisis by developing new, affordable homes for people in need.”
Accent will use the bond to build more than 2,000 new homes in the next five years, including 1,000 in the eastern region, and will also invest in its existing homes and services.
Advisers on the bond issue were Barclays, Lloyds Bank Corporate Markets and Nat West Markets which oversaw Accent’s business plans,
governance and structure which increased the demand from investors and resulted in such a successful bond issue.