Macquarie Asset Management has provided £100m (€114.5m) in debt financing to not-for-profit housing association, Places for People.
Places for People is one of the UK’s largest social housing providers, owning and managing approximately 262,000 homes across England and Scotland.
The debt financing deal comprises an eight‑year unsecured private placement bond, issued under Places for People’s Euro Medium‑Term Note Programme, with a bullet maturity profile. Proceeds from the issuance of the notes will be applied towards refinancing, enhancing the group’s balance sheet flexibility and extending its debt maturity profile, the housing association said.
Gareth Edwards, head of secure income EMEA at Macquarie Asset Management, said: “Places for People has deep expertise in social housing, a strong reputation in the sector, and close links with the communities it serves. In a volatile market environment, we were pleased to work closely with the team to deliver an expeditious refinancing solution, providing certainty and flexibility within their wider funding programme.
“This supports Places for People’s ability to continue investing in existing homes and to deliver more high‑quality, affordable housing over time, and we look forward to building on our relationship in the future.”
Baljit Singh, head of treasury at Places for People, said: “We’d like to thank the wider Macquarie Asset Management team for their support throughout this process. In a challenging market, working with a new investor is crucial, allowing us to form partnerships that sustain our continued investment in communities.
“The funding further strengthens the resilience of our financing programme and reinforces our commitment to investing in our existing homes, enhancing services for our customers, and delivering much needed, high quality affordable housing across our communities. We look forward to building our relationship with Macquarie as we continue our long-term mission to be recognised as one of the UK’s leading social enterprises, changing lives by creating, managing, and supporting thriving communities.”
Macquarie Asset Management has deployed more than €2bn of debt to support social housing providers and local authorities across the UK and Europe.
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