Devonshires are delighted to have acted for Accord Housing in relation to a restatement of its private placement funding deal with Pension Insurance Corporation plc (PIC).
The additional financing follows on from an initial £100m private placement funding deal with PIC, which completed last year.
Accord have announced that the additional £30 million will be used to support its growth and development as a Homes England Strategic Partner to boost the delivery of housing across the West Midlands.
Stuart Fisher, Executive Director of Resources at Accord said: “This additional long-term funding will support Accord’s ambitions to build more affordable homes and quality services to our customers, especially through the New Ways of Working Programme. This funding package been secured at an attractive rate representing extremely good value in the market, and we are delighted to once again partner with PIC, a well-established and respected funder to the social housing sector. We would also like to offer our thanks to advisors, who have supported this transaction; Centrus, Devonshires, and Pinsent Masons for all their support.”