By Marisa Wong
Los Angeles, Sept. 6 – Places for People Treasury plc priced £105 million of additional 5.75% guaranteed sustainability notes due May 11, 2055 (expected: A3/A-/A), according to a 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 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 and Sept. 1, respectively.
The latest add-on priced at 90.59 to yield 6.45%.
Goldman Sachs International is the dealer for the non-syndicated Regulation S offering.
The estimated net proceeds of £97,088,250 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: | £105 million
|
| Issue: | Guaranteed sustainability notes, series 17, tranche 3
|
| Maturity: | May 11, 2055
|
| Dealer: | Goldman Sachs International
|
| Second-party opinion: | imug rating GmbH
|
| Coupon: | 5.75%
|
| Price: | 90.59
|
| Yield: | 6.45%
|
| Call features: | From Feb. 11, 2055 at par
|
| Pricing date: | Sept. 6
|
| Settlement date: | Sept. 8
|
| Ratings: | Moody’s: A3
|
| S&P: A-
|
| Fitch: A
|
| Distribution: | Regulation S
|
| ISIN: | XS2620911128
|
| Total issue: | £205 million, including £75 million issued on May 11 and £25 million issued on Sept. 1
|
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