Devonshires act for Housing 21 on £130m bond tap issue and subsequent £80m retained bond sale

We are delighted to have acted for Housing 21 on their recent tap issue and retained bond sale.

On 12 January 2022 Housing 21 sold a further £80m of its existing 3.288 percent 2049 secured bonds, taking their total bonds in issue to £450m. This follows a tap issue in mid-December when £130m was issued and retained.

The funds will play a key role in helping Housing 21 deliver its strategy to provide more affordable homes to older people across England and continue investing in quality and customer service.

Partner Julian Barker and Solicitor Rachel Orgill-Harris acted for Housing 21.

Andy Howarth, Chief Financial Officer at Housing 21 said: “Once again, Julian and Rachel have successfully supported me through a key financial transaction.  This deal completes a small refinancing exercise which has removed legacy RPI debt from the portfolio and reduced our average cost of debt. I look forward to working with Devonshires again in the future.”

For more information, please contact Julian Barker or Rachel Orgill-Harris

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