By Mary-Katherine Stinson
Lexington, Ky., Aug. 30 – Places for People Treasury plc priced £25 million of additional 5.75% guaranteed sustainability notes due May 11, 2055 (A3/A-), according to a final term sheet.
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 priced at 92.022 to yield 6.336%.
The notes will be consolidated and form a single series with the company’s existing £75 million of 5.75% guaranteed sustainability notes issued on May 11 on exchange of the temporary note for interests in the permanent note, which is expected to occur on or about Oct. 11.
NatWest Markets plc is the dealer for the Regulation S offering.
The estimated net proceeds of £23,446,906.25 are intended to finance or refinance the eligible projects of the group under its sustainable finance framework. The sustainability bonds received a second-party opinion from imug rating GmbH on Dec. 17, 2021.
The notes were issued under the company’s £3 billion euro medium-term note program.
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: | £25 million
|
| Issue: | Guaranteed sustainability notes, series 17, tranche 2
|
| Maturity: | May 11, 2055
|
| Dealer: | NatWest Markets plc
|
| Second-party opinion: | imug rating GmbH
|
| Coupon: | 5.75%
|
| Price: | 92.022
|
| Yield: | 6.336%
|
| Call features: | From Feb. 11, 2055 at par
|
| Announcement date: | Aug. 30
|
| Settlement date: | Sept. 1
|
| Ratings: | Moody’s: A3
|
| S&P: A-
|
| Distribution: | Regulation S
|
| ISIN: | XS2620911128
|
| Total issue: | £100 million, including £75 million issued on May 11
|
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