Cardiff-based housing association agrees £62m financing deal

Kath Palmer, chief executive of Cadwyn, said: “As the new chief executive I am delighted to build on the successes of Cadwyn and to continue to provide excellent-quality homes and build communities through partnership and innovation.

“This funding will take Cadwyn forward into our next phase of development and we thank Centrus for their excellent support as well as our key funders Westbourne Capital and Barclays and our legal advisors Devonshires Solicitors and Clarke Willmott.”

Ms Palmer was formerly deputy director of housing and regeneration at the Welsh government and joined Cadwyn in March 2019.

Centrus acted as financial advisor on the deals.

Tim Floyd, director of Westbourne Capital, said: “We are very pleased to be able to support Cadwyn in the provision of new affordable housing in the growing Cardiff region.

“As a regulated housing provider with an experienced management team, Cadwyn aligns well with our focus on lending to high-quality infrastructure assets to generate stable returns over the long term for our clients.”

Richard Whittaker, relationship director at Barclays Corporate Banking, said: “We have a strong and longstanding relationship with Cadwyn Housing Association, and so are pleased to have been able to help provide support for their continued growth – while underlining our ongoing commitment to the social housing sector in the UK.”