Chicago, May 3 – Jigsaw Funding plc sold £360 million of 3.375% secured sustainability bonds due 2052 (A2) at 97.744, according to a document.
The bonds can be redeemed early with a make-whole premium of Gilts plus 25 basis points.
Barclays and NatWest Markets are listed as the joint bookrunners.
NatWest Markets worked as the sole sustainability structuring bank.
Proceeds will be used for sustainable purposes in accordance with the issuer’s sustainable finance framework.
The issuer is a special purpose vehicle for Jigsaw Homes Group Ltd., the 22nd largest registered provider of social housing in England. The core of the business is the management of social housing for rent.
| Issuer: | Jigsaw Funding plc
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| Amount: | £360 million
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| Issue: | Sustainability bonds
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| Maturity: | May 5, 2052
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| Bookrunners: | Barclays and NatWest Markets
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| Structurer: | NatWest Markets
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| Trustee: | M&G Trustee Co. Ltd.
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| Counsel to issuer: | Trowers & Hamlins LLP
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| Counsel to underwriters: | Addleshaw Goddard LLP
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| Coupon: | 3.375%
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| Price: | 97.744
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| Yield: | 3.497%
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| Call features: | Make-whole call at any time at Gilts plus 25 bps
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| Trade date: | May 3
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| Settlement date: | May 5
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| Ratings: | Moody’s: A2
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| Distribution: | Regulation S
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| ISIN: | XS2471415534
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