FINANCE: Social housing developer Orbit Group is to issue its first public bond in March, the company has announced.
The £250m bond will be used to support the development activities of Orbit and is backed by an A1 credit rating from ratings agency Moody’s.
Lloyds, Santander and HSBC have been appointed as arrangers and will launch investor meetings in March.
Anne Turner, chief operating officer at Orbit Group, said: “As well as the target of 12,000 new homes as part of Orbit’s 2020 Vision, the bond will also support two other key priorities of investing £30m into communities as well as investment in existing homes to make them at least grade C energy-efficient compliant and help address resident fuel poverty.”
