Trowers advises Selwood Housing on new loan facility with Lloyds
International law firm Trowers & Hamlins has advised Selwood Housing on a £55,000,000 financing with Lloyds Bank plc.
Selwood Housing are a not-for-profit housing association with over 7000 homes for rent at affordable prices in Wiltshire, Somerset and Bath and North East Somerset.
Having first worked together in 2019 on the original revolving credit facility, Trowers advised Selwood Housing on the amendment to various commercial terms of the facility, including the extension of maturity date and an increase in the credit facility.
The Housing Finance team at Trowers was led by Jasna Djurisic with support from Emma Carr and Lowri Fernyhough. Hannah Jackson and Sarah Cross from the Property Security team advised on finalising the portfolio of properties to secure the next drawdown.
Jasna Djurisic, Managing Associate in Trowers' Banking and Finance team, commented:
"We have seen a lot of activity from our clients during early autumn with new and restated facilities and Selwood Housing Society is one of the first over the line. It is always a pleasure to work with Selwood Housing and we are pleased to have supported them with this new loan facility which will help them to continue to provide affordable rental properties across the South West."
Mark Mayler, Group Finance Director at Selwood Housing, added:
"We are very happy with the work that Trowers have done on finalising this agreement with Lloyds. The timings were tight to deliver a final version and report ahead of our Board meeting and I’m grateful to the whole Trowers team for their efforts in meeting the deadline. We look forward to working with them in the future."