We have issued £75m of secured retained public bonds. The bonds were sold last week through our financing subsidiary Myriad Capital Plc.
The bonds were successfully placed with high quality, long term investors and the proceeds will be used to fund the our ambitious development programme over the next two to three years, delivering around 1,000 new homes.
The decision to issue the bonds comes following the news that we retained the A+ rating after our finances were analysed by the world renowned credit agency Standard & Poor’s. Retaining the A+ rating is a clear recognition of the overall strength of our business plan, financial control and excellent asset quality and operational performance.
Paul Edwards, CHP’s Director of Resources, said: “We felt it was the optimum time for CHP to issue its retained bonds and we are pleased with the outcome. It has secured valuable funds to help us acquire and build more homes across Essex over the next few years.
“As a Homes and Communities Agency rated V1 and G2 organisation we are delighted to have attracted high quality institutional investors which shows confidence in us as a respected provider of affordable homes.”