New Issue: Places for People adds £100 million 5.75% sustainability notes

Chicago, March 18 – Places for People Treasury plc priced £100 million of additional 5.75% guaranteed sustainability notes due May 11, 2055 (A3/A-/A), according to a term sheet.

The issue price is 100.542, with interest from Nov. 11, 2023 to the issue date.

HSBC Bank plc and NatWest Markets plc sold the Regulation S add-on.

The notes were issued under the company’s £3 billion euro medium-term note program.

The notes will be consolidated and form a single series with the company’s existing £100 million of 5.75% sustainability notes due 2055 issued in £75 million and £25 million tranches on May 11, 2023 and Sept. 1, 2023, respectively. A second add-on for £105 million was issued on Sept. 8, 2023. This is the third add-on.

The notes are jointly and severally guaranteed by Places for People Homes Ltd., Places for People Living+ Ltd. and Castle Rock Edinvar Housing Association Ltd.

The notes will be listed in London.

Places for People is a London-based housing service and regeneration company.

Issuer:	Places for People Treasury plc
Guarantors:	Places for People Homes Ltd., Places for People Living+ Ltd. and Castle Rock Edinvar Housing Association Ltd.
Amount:	£100 million
Issue:	Guaranteed sustainability notes
Maturity:	May 11, 2055
Bookrunners:	HSBC Bank plc and NatWest Markets plc
Coupon:	5.75%
Price:	100.542
Yield:	5.712%
Call features:	From Feb. 11, 2055 at par
Trade date:	March 18
Settlement date:	March 20
Ratings:	Moody’s: A3
	S&P: A-
	Fitch: A
Distribution:	Regulation S
ISIN:	XS2620911128 (temporarily XS2787871842 until consolidation)
Total issue size:	£305 million

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