Housing association Vivid has secured a £100m funding facility from HSBC UK to build more affordable, energy-efficient homes.
The five-year revolving credit facility includes targets for delivering sustainable homes and maintaining high standards of governance.
Vivid was the fifth biggest builder among housing associations in 2023-24, delivering 1,524 homes, of which more than 90% were for affordable tenures.
Jonathan Roberts, group treasurer at Vivid, said: “Our development colleagues keep us in the market for new funding. We spent about £500m on new homes last year. The deal is keenly priced, a testament to our financial strength. It’s great to bring a renowned bank into our funding pool. We are excited to see how this relationship can grow in the coming years.”
Bevan Brittan advised Vivid; Addleshaw Goddard advised HSBC.
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