Lincolnshire Housing Partnership’s Bond Sale success looks to deliver more new homes across the region

LOCAL housing provider Lincolnshire Housing Partnership (LHP), which has offices in both Boston and Grimsby, is looking to deliver even more new homes across the region than first imagined, thanks to a recent bond sale.

The social landlord, which owns 12,500 homes throughout Lincolnshire, has raised new funds after securing a significant premium on retained bond sales. The sale was secured despite the limitations of social distancing guidelines during the Coronavirus outbreak.

After promising to deliver 240 new homes over the course of their 2019-2023 Corporate Plan, LHP is now in a place where they can exceed those expectations, as well as a strong position to tackle any post-COVID-19 challenges.

Julie Kennealy is Executive Director of Resources at LHP and she was delighted with the sale.

“This is a great outcome for LHP and transformational in our financial position,” she said. 

“This capital will allow an opportunity LHP to extend the growth commitments of its 2019 Strategic Plan, which included 240 additional homes in communities across Lincolnshire by 2023 and maintain strong liquidity and financial resilience to meet future challenges presented post-pandemic.

“Without doubt our recent credit rating success was key to the bid we secured, and we pushed everyone hard to make big decisions so quickly – despite the constraints placed on us during lockdown too!

“It has only been just over five weeks since the Board considered and supported the new Treasury Strategy, but it has been an extremely fruitful five weeks.”

LHP was supported in the bond sale process by Centrus as treasury advisors, Savills as Valuers and Trowers as Legal Advisors.