TradeRisks arranges £180m bond for Notting Hill Housing Trust

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Notting Hill Housing Trust, one of London's leading affordable housing providers, owning and managing over 26,000 homes across London and the wider South East, ("NHHT") has successfully launched and priced a £180m debut 32 year bond issue. TradeRisks acted as Arranger for the transaction.

The deal, which is rated Aa3 by Moody's achieved a margin of 110 basis points over the 4.5% UK Treasury Stock 2042, one of the tightest margins on any own-name bond issue from the housing sector in recent years. The all-in yield of 5.259% was also one of the lowest achieved by any recent housing related bond issue.

The bond was issued by Notting Hill Housing Trust, the asset owning parent of Notting Hill Housing Group.

Paul Phillips, Group Finance Director of Notting Hill Housing Group said:

"We are delighted that investors have shown confidence in Notting Hill's business plan as well as of the credit quality of the sector and supported this issue so positively. The bond will reduce our cost of capital, enabling Notting Hill to continue to reinvest in its homes as well as supporting our development programme of over 1,000 new homes each year. The issue further re-enforces our strong financial base, which we use to help those who cannot afford to buy their own home in London."