Social housing provider Mosscare St Vincent’s Housing Group has secured a £50m sustainability-linked revolving credit facility with Lloyds.
The tailored facility supports MSV in its plans to expand its portfolio of affordable homes in the north west of England, while retrofitting its existing properties to enhance their energy efficiency. It aims to make all of its existing homes become EPC C rating or above by 2030.
In its inaugural funding agreement with Lloyds, MSV’s sustainability-linked RCF includes key performance indicators that should enable the housing provider to receive a discount on its funding.
The KPIs include delivery of new affordable homes that meet a minimum EPC B rating and improvement in the energy efficiency of existing homes currently under its portfolio.
MSV owns and manages around 9,000 social and affordable homes across Greater Manchester, Lancashire, Cheshire, and West Yorkshire.
Steve Aggett, executive director of finance & business excellence at Mosscare St Vincent’s Housing Group said: “This funding from Lloyds will enable us to continue in our mission of providing high-quality, affordable, much-needed homes in Greater Manchester and beyond, while meeting our sustainability goals. We are delighted to have Lloyds as our relationship bank.”
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