Futures has really ambitious plans to house and support many more people across the East Midlands. But naturally we need resources to do this. So this week we’re delighted to have raised a further £70m in financing through issuing a new bond. This builds on the £200m bond we issued in 2019 which has already helped us increase our stock of homes to over 10,300.
Now is a good time to be seeking new investment – rates in the money markets are good. Investors were clearly confident that Futures has a strong business plan and is a well-run business – as shown by our G1/V1 ratings from the Regulator of Social Housing as well as our A+ (stable outlook) credit rating.
Responding to the refinancing Mike Stevenson, our Group Chair, said: “We take pride in being a well-run and progressive organisation so it was fantastic to see this recognised in the very strong demand from lenders to invest in us and our plans. This, together with the recent external ratings from S&P and the regulator show that we are going from strength to strength. There is still so much we want to do to help support local communities so this extra investment will allow us to keep forging ahead.”
Ian Skipp, Group Finance & Resources Director also commented: “This long term financing not only delivers competitively priced long term debt, it also allows us to plan with more certainty to improve our customers’ homes, build more new homes and support communities to be more self-sufficient and resilient. This latest financing forms part of a longer term financial strategy linked to our strategic ambition to deliver a sector leading, value for money service."