Bromford Flagship is delighted to announce that it has undertaken two new financing transactions this month to fund its strategic ambitions over the years ahead. These comprise the completion of a 25-year, £300m sustainable bond and an extended term loan from NatWest.

The bond, which has a 25-year maturity, was met with strong investor demand in the current market conditions and was four times oversubscribed. It was priced at government gilts plus 0.82% producing a coupon and yield of 6.072%, marking the housing association sector’s tightest spread in four years.

It’s the first issuance under Bromford Flagship’s recently established Euro Medium Term Note programme and was issued under the group’s Sustainable Finance Framework. Both frameworks were established in June 2025 to create an enhanced route to access the sustainable capital markets to enable the organisation to deliver 2,000 new homes a year over the next 30 years.

At the same time Bromford Flagship has finalised a term loan from NatWest which extends the life of facilities previously available to the group. This bilateral loan, along with the £300m bond, has sustainability features and these will allow the group to continue its investment in high-quality, affordable homes in places that enable people to thrive, delivering sustainable outcomes for customers and communities.

Bromford Flagship’s Chief Finance Officer Paul Walsh said: “These deals optimise our ongoing debt facilities whilst raising some new funds that support our liquidity. They increase the average life of our outstanding debt and demonstrate our confidence to fund the business for the long term to support our ambition to be one of the largest builders of much needed social and affordable homes in the UK.

“This is an important milestone which will allow us to move forward with our future financing and development plans and enables us to access the additional £1.9 billion capacity following the creation of Bromford Flagship earlier this year.”

Dominic Brindley, Director Financing and Risk Solutions at NatWest, said: “NatWest is delighted to support Bromford Flagship as both arranger of their £1.5bn EMTN programme and an active bookrunner on this £300m debut drawdown. NatWest is committed to playing its part in helping people into safe stable homes and this is reflected in our ambition to lend £7.5bn to the social housing sector.”

Bromford Flagship ratings of A2 Stable with Moody’s and A+ Stable with S&P will apply to the bond. The managers on the bond transaction were Barclays Bank PLC, Lloyds Bank Corporate Markets plc, NatWest Markets Plc and ABN AMRO Bank N.V.. Bromford Flagship’s legal advisers were Devonshires Solicitors LLP and its treasury advisers were Newbridge Advisors LLP. These transactions follow a £75 million private placement that the housing group issued in April.