Devonshires act for The Wrekin Housing Group Limited on £600m restructuring

Devonshires’ Banking and Securitisation teams are delighted to have advised The Wrekin Housing Group Limited.

The team acted on a full restructure of its corporate financing including facilities with lenders Santander, NatWest, Allied Irish Bank, Lloyds and the First Abu Dhabi Bank totalling £350m and a new bond issue totalling £250m (including £50m of retained bonds).

The proceeds of the restructure will support Wrekin’s development programme, including upgrades to existing stock and the development of more than 3,000 new homes across Telford & Wrekin, Shropshire and Staffordshire.

The Devonshires team comprised Julian Barker, Sharon Kirkham, Carolyn Thomas and Alice Overton.

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