Allia C&C is delighted to have worked with housing association LiveWest Treasury PLC to launch its 5% fixed rate notes due in 2031 as part of its EMTN programme.
The bonds were issued with a coupon of 5% with a six-year maturity, benefiting from the shape of the yield curve. They were issued as a green bond under its sustainable framework.
The transaction provided competitive funding in comparison to other markets and highlights the attractiveness of utilising an EMTN programme for HAs.
LiveWest, rated A2 by Moody’s, is a registered social landlord who own and manage over 40,000 homes across the South West, ranging from Cornwall to Gloucestershire. With ambitious plans to provide 5,000 new affordable homes in the region over the next five years. LiveWest is taking huge steps towards alleviating the region’s housing shortage, in an area of high housing need as well as high house prices which makes accessing housing particularly challenging for many families.
Commenting on this result, Rachael Sivewright, Head of Treasury at LiveWest, said “We were delighted to work with Allia C&C to issue our six-year Green notes. Ben Halls’ knowledge and support throughout was invaluable when targeting a sub-10-year maturity, which is less typical for the sector.”
Ben Hall, Co-Head of DCM, said “We had been looking at the shorter end of the market for a few months and was thrilled to be able to access the market with a 5% coupon for such a high quality credit in the sector such as LiveWest.”
Allia C&C provides advisory and arranging services to a wide range of borrowers, from charities to commercial businesses and public sector bodies alongside intelligence and brokerage services for investors.
For press and media enquiries, please contact:
Susan Curtis
Group Head of Marketing & Communications, Allia
susan.curtis@allia.org.uk
01223 781323
For Allia C&C and its services, please contact:
dcm@alliacc.com / 020 3039 3445
