Dominic Brindley, Debt and Financing Solutions, NatWest, said: “We’re excited that we can actively contribute to social, economic and environmental progress in the UK by supporting customers such as bLEND with its very successful issuance of a long dated Social Bond. While increasing the range of maturities now available to bLEND’s borrowers, this transaction also highlights the significant demand towards the long end of the Sterling market as investors continue to have cash to put to work for high quality issuers.”
Dr Arthur Krebbers, Head of Sustainable Finance Corporates, NatWest, added: “bLEND’s 40-year Social Bond highlights yet again the pioneering role the social housing sector plays in the transition to sustainable business practices. The transaction also underlines our ongoing success with Housing providers and financial aggregators in the sector; and we are very pleased that we had the opportunity to support bLEND with strategic insight into its framework earlier this year.”
Piers Williamson, Chief Executive, bLEND, said: “Given the resurgence of inflation as a risk factor, the ability to lock in a 2.467% cost of funds for 40 years is a big deal and allows our borrowers to look to the future with confidence as they focus on the huge challenge of becoming net zero carbon by 2050. bLEND’s total issuance has recently passed £1billion, marking us out as a significant funder to the social housing sector, and we’re delighted to be working with GreenSquareAccord as they exemplify the sector’s growing record of innovation as well as providing homes that are not just affordable but also sustainable.”
James Tarrant, Director of Corporate Finance & Treasury, GreenSquareAccord, said: “We are delighted to have secured a long-term funding package through bLEND with the support of NatWest. This funding will help us deliver our commitment to develop 1,000 new affordable homes a year for some of the most vulnerable people in society.”
*83% of orders were made by signatories of the United Nations Principles for Responsible Investment.