Beyond Housing has secured the backing of major investors for its long-term sustainable development plans.
The 15,000-home landlord, which operates in Tees Valley and North Yorkshire, has successfully refinanced using a sustainability bond, attracting investors to the tune of £250million. The bond will enable Beyond Housing to press ahead with its plans to develop green homes while continuing to deliver social value to its customers and neighbourhoods.
The refinancing deal will enable Beyond Housing to make significant interest savings and therefore invest more in its existing and emerging communities. The bond issuance was based on the company’s Sustainable Bond Framework, which sets out its social and environmental objectives. Beyond Housing’s social activity includes employability programmes, alongside income and financial support. Its environmental targets include reducing energy bills and consumption in new and existing homes, tackling fuel poverty and ultimately decarbonisation and the replacement of gas-heating.
Rosemary Du Rose, Chief Executive of Beyond Housing, said: “Receiving such a vote of confidence from a wide range of investors, is a ringing endorsement of our work at Beyond Housing and a vote of confidence in the North East region more widely. The funds raised in this bond will enable us to be front and centre in contributing to the levelling-up agenda, providing quality homes and neighbourhoods as our area goes from strength to strength.”
“At Beyond Housing we are committed to sustainability, and genuinely care about the work we do in supporting customers and communities and having a positive impact on their lives. This bond will enable us to invest in existing properties, providing more energy efficient homes and helping us move to becoming a carbon zero organisation. In addition, it will help us deliver our ambitious development programme, providing value for money and securing the company’s long-term plans.”