£130m finance deal for Halton

The package included a £60 million private placement and restructuring of the trust’s existing loans with Lloyds Bank. The private placement, which is similar to a bond but offered to selected investors rather than on the open market, is with two investors for 35 years.

The 6,400-home landlord said the funding will enable it to invest in its existing properties and build 700 new affordable homes over the next few years.

The trust’s chief executive Nick Atkin said the funding was ‘low priced’ but would not disclose the terms of the private placement element. Lloyds also declined to give the names of the two investors on the private placement or further details on the price of the loan and on how much of it was refinancing.

Halton’s legal advisor for the deal was DWF LLP and its funding advisor was Capita Asset Services.