You are viewing 1 of your 1 free articles
Major house builder completes £300m refinancing package
London-based house builder The Hill Group has completed a £300m refinancing package of its revolving credit facility (RCF).
London-based house builder The Hill Group has completed a £300m refinancing package of its revolving credit facility #UKhousingThis increase in committed funding comes with a maturity extending to December 2030.
The firm said the RCF has been its principal source of debt funding since 2015, and this third refinancing package “demonstrates the continued confidence and long-term support of Hill’s core banking partners HSBC, Lloyds, NatWest and Santander”.
Hill said the increased facility provides long-term funding certainty and flexibility to support delivery of its five-year business plan up to 2030, which aims to double the group in size.
Read more
Tony Parker, group finance director at The Hill Group, branded it a “landmark moment” for the firm.
“HSBC, Lloyds, NatWest and Santander have supported the business since 2015, when we first raised £120m, and we are grateful for their continued backing as we deliver our growth ambitions through to 2030,” he added.
The refinanced facility retains its Sustainability Linked Loan (SLL) status, first achieved by the group in 2021.
Sustainability targets embedded in the facility align with the group’s wider environmental, social and governance strategy, including carbon reduction, renewable energy sources and positive community outcomes.
The new SLL will fund Hill’s long-term development projects, including the Marleigh Park development in Cambridge, Coventry City Centre South, and the regeneration of the Teviot Estate in Tower Hamlets, east London.
Paul Eyre, head of residential and housing finance at NatWest, said: “Hill is a valued, long-term customer of the bank and we look forward to continuing our relationship, supporting its growth plans and the delivery of much-needed homes into the next decade.”
David Cleary, managing director for housing at Lloyds, said: “Sustainability in housing is complex, and we have seen first-hand how hard Hill has worked to remain a leader in this area by embedding sustainability into its homes and communities. We look forward to continuing to work with the team as the business enters its next phase of growth.”
Last November, Hill appointed its first business growth director, who will focus on securing partnerships with councils, housing associations and other public sector bodies.
Sign up to Inside Housing’s Development and Finance newsletter
Sign up to Inside Housing’s weekly Development and Finance newsletter, featuring a round-up of business, development and regeneration news and analysis.
Click here to register and receive the Development and Finance newsletter straight to your inbox.
And subscribe to Inside Housing by clicking here.
Already have an account? Click here to manage your newsletters.
Related stories
