You are viewing 1 of your 1 free articles
Sanctuary launches £2.5bn EMTN programme
Large housing association Sanctuary has launched a £2.5bn Euro Medium-Term Note (EMTN) programme.
Large housing association Sanctuary has launched a £2.5bn Euro Medium-Term Note programme #UKhousing The 125,000-home landlord said the launch of the programme gave it the ability to source capital efficiently and to “ensure continued investment in both its existing and new homes, and the communities it serves”.
An EMTN is a financial instrument which offers quick access to debt capital markets.
Read more
Sanctuary’s programme is linked to its sustainable finance framework, which will be published shortly.
Ed Lunt, chief financial officer of Sanctuary, said the programme was a “key vehicle for our future financing and treasury strategy”.
He said: “It will enable us to access the market quickly and flexibly, ensuring we can source the most suitable form of debt at the times we need it.”
Mr Lunt added that the programme “will also ensure we can take beneficial opportunities to respond to different investor demands”, while “continuing to grow our business and deliver our strategic objectives”.
In March, Birmingham-based Platform Housing Group doubled its EMTN programme to £2bn.
The housing association uses the financial instrument to develop more affordable housing and improve the energy efficiency of its existing homes.
More recently, Sovereign Network Group launched a £1.5bn EMTN programme.
Funding from the programme will be allocated in line with the 84,000-home landlord’s sustainable finance framework to develop affordable housing across London and the South of England.
Sign up for our development and finance newsletter
Already have an account? Click here to manage your newsletters
Related stories
