Metropolitan Thames Valley, the G15 housing association, has agreed a £100m sustainability-linked loan with MUFG EMEA to support the delivery of affordable homes across the UK.
The financing will help MTVH with its target to deliver more than 1,000 homes annually.
In the financial year to the end of March 2024, MTVH has forecast the delivery of at least 815 homes and will report on this target at its full-year results later in the summer.
Outgoing MTVH chief executive Geeta Nanda said: “Since 2020 we have committed to aligning our borrowing with our sustainability goals through our sustainable finance framework and working with funding partners that share our commitment to sustainable growth. This facility will enable MTVH to continue with its central mission to provide much needed affordable housing in the UK.”
She added: “As reported at our half-year trading update in December 2023, MTVH’s financial position is strong, with £765m of available liquidity, and this transaction further supports that position. We will update the market on our full-year housing delivery numbers and goals for the 2024/25 financial year when we release our full-year results later in the summer.”
Sanjay Narbheram, head of housing finance at MUFG EMEA, said: “The refinancing and increase to the debt facilities will help MTVH in part to continue providing affordable homes for people and communities who need them most whilst meeting the rising demand for housing in the UK.”
MTVH agreed the loan via its main borrowing entity, Metropolitan Housing Trust. MUFG EMEA acted as the sole lender on the financing package.
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