UK social housing association Havebury Housing has secured up to £125 million ($167.6 million; €141.4 million) from Macquarie Infrastructure Debt Investment Solutions.
MIDIS has provided a £75 million tranche with a 35-year maturity, which amortises after 20 years. It has also agreed with Havebury a £50 million shelf facility under similar terms, which can be accessed by Havebury upon request.
The deal is part of a wider £270 million debt package sealed by Havebury, supported by Lloyds, RBS and Barclays. The not-for-profit firm is expected to use the new funds to refinance some of its 6,400 existing homes and also support the development of over 1,400 new social and affordable homes over the next five years. The transaction is the first time Havebury has partnered with institutional financing.
Read the full article on our sister site, Infrastructure Investor.