Sanctuary Group has raised £200m in a Private Placement deal from North American-based investors.
The Group, which manages over 100,000 homes across England and Scotland, will use the money to support its plans to build more than 30,000 new homes over the next 10 years, as well as to refinance existing maturing debt.
Sanctuary has the highest governance and viability ratings of G1 and V1, and is rated A+ / A2 by Standard & Poor’s and Moody’s. SMBC Nikko acted as the sole placement agent for the unsecured bonds which comprise a number of maturities from 10 to 30 years.
Craig Moule, Sanctuary Group’s Chief Financial Officer, commented: “US private placements have been an important part of the Group’s funding for many years so we are pleased to have secured this new deal which has involved both existing and new investors to Sanctuary.
“The competitive rates achieved, together with the greater flexibility of unsecured funding, provide a strong platform for the Group’s strategic growth plans of increasing housing supply and expanding its care services.”
