We’ve secured new financing agreements with five lenders worth an additional £300 million.
The extra funding will help us deliver our development target of 1,000 new affordable homes a year, invest in our existing homes and realise our environmental ambitions.
The deals are with five lenders – Barclays, Nationwide, Lloyds, Natwest and HSBC – and are made up in part by enhanced revolving credit facility (RCF) agreements and retrofit and social rent packages.
Rob Griffiths, Deputy Chief Executive, said: “We’re very pleased to have agreed these finance packages with the various organisations.
“Our two legacy companies had strong relationships with four of these, and we’re delighted to also have agreed a new facility with HSBC.
“These packages represent another landmark for Amplius and will help us to improve our affordable housing offer as we ensure we’re doing everything we can to enable people to thrive within the communities we serve.
“One of the key drivers behind our merger is to go further and do more for our customers and this level of investment will help us provide more new homes and make our homes safer and more energy efficient.”
We’ve been supported and advised by the treasury team at Savills, as well as the banking and finance team at Winckworth Sherwood, to secure these deals.
Rob added: “I’d like to thank everyone who’s worked hard to help get these new facilities across the line.
“By unlocking this funding, we’ll be able to deliver our development targets, provide warm, safe and quality homes for our customers and create communities where people are pleased to live.”
Sarah Whitty, Partner at Winckworth Sherwood, told of her happiness at helping secure these deals.
She said: “The Winckworth Sherwood finance team is delighted to have supported Amplius and worked alongside Savills on this significant funding transaction.
“The facilities will play a key role in enabling Amplius to deliver on their strategic ambitions, including delivery of their important retrofit programme.”
Mike Roche, Director at Savills Financial Consultants, added: “This has been a really important exercise for Amplius as it unlocks capacity and enables it to deliver on its ambitions as a larger organisation.
“The debt and hedging portfolio has been carefully restructured to provide the necessary liquidity and protect Amplius from the current turbulent markets.
“It’s been a pleasure to work with the Amplius team to deliver such a great outcome for them.”