Devonshires act for L&Q on the issue of Sustainability-Linked Bonds

We are delighted to have acted for L&Q on the issue of their Sustainability-Linked Bonds.

L&Q will this week issue £300m 2.00% sustainability-linked bonds due 2032 under its EMTN programme. The issue will be the first of its kind in the social housing sector.

Under the new SLB, L&Q makes commitments to reduce carbon emissions and to improve energy efficiency in residential homes and the funds raised will be invested in the development of 8,000 new homes in the UK by 31 March 2024, half of which will be affordable.

The targets set by L&Q are part of a wider strategic aim to achieve net zero carbon by 2050. The targets and the SLBs are in line with L&Q’s objectives and social purpose, benefitting its residents and the wider community.

L&Q is one of the UK’s leading housing associations providing homes to approximately 250,000 people, primarily across London and the South East of England.

For more information, please contact Julian Barker, Sharon Kirkham or Alice Overton.

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