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Raising c.£300 million of long-term capital markets funding through a number of transactions throughout the year.

Benefits to the client

Through a combination of opportunity-led approaches and nimbleness, Southern Housing managed to raise long-term fixed rate funding at competitive rates. Responding to macro events, pent-up investor demand from other primary transactions, and ad hoc reverse enquiries, Southern Housing were able to fund during times of more favourable underlying interest rates, as well as minimising new issue premia paid on the credit spreads.

Newbridge role

Newbridge supported Southern Housing throughout the entirety of this funding process. This included liaising directly with relationship banks on Southern Housing’s behalf, considering optimal approach to market for highest execution certainty, helping to minimise risk whilst always being ready to capitalise on attractive opportunities very quickly as they arose.

Insights

Newbridge’s Partner for Regeneration and Development, will be co-chairing a panel at UKREiiF in Leeds to explore what has been accomplished so far at Meridian Water in Enfield.

Newbridge’s Regeneration and Development Team is advising Enfield Council on the procurement of a development partner to deliver up to 600 new homes at Meridian 13.

Newbridge chaired a roundtable between housing associations and three leading funders to explore the potential positive impact of SLLs in the social housing sector.