Case Studies
Delivering successful outcomes for our clients

Centrus advises Platform Housing on debut debt capital markets transaction, a £350 million bond issue with a 2055 maturity and a fixed coupon of 1.625%

The bond received outstanding support from a broad range of institutional investors with demand well in excess of £1 billion from 60 investors, providing a very strong endorsement for Platform Housing’s strategy, a key part of which is to expand the availability of new affordable homes across the Midlands. Raising these funds will enable Platform Housing to continue with these plans with even greater confidence.

Platform Housing is the largest housing association in the Midlands and one of the largest in the country, owning over 45,000 homes. Over the last 2 years, it has built more social and affordable homes in England than any other social housing provider and is a strategic partner for Homes England.

The 35 year maturity is amongst the longest dated publicly listed debt ever raised by a UK housing association. The 1.625% coupon is the lowest ever achieved in the long-dated sterling bond market for this credit rating category (across all sectors) and recognition of the strong credit and low risk business model of Platform Housing.

Rosemary Farrar, CFO - Platform Housing Group Centrus supported the Treasury Team as Platform launched our successful debut bond onto the DCM. Centrus provided the Platform Board with a valuable support role in clarifying risk and documentation and helped us to hit our very tight deadline. As our critical friend Centrus clearly understood and supported our strategy and gave us valuable advice to reach our successful goal. Investors recognised Platform’s strong credit and our bond a record low price which will help us to invest on more homes for low rent.