International law firm Trowers & Hamlins has advised Midland Heart on £100 million fixed rate 10-year sustainability-linked facilities with National Westminster Bank Plc.
The new funding with NatWest will allow Midland Heart to deliver new social housing in line with their 2025-2030 corporate strategy 'Tenants at Heart' and will support Midland Heart's commitment to retrofitting homes to higher environmental standards with a minimum EPC C rating by 2030.
Trowers advised on all stages of this significant new financing for Midland Heart to assist it in securing longer term funding for the construction of homes built to higher environmental standards and the modernisation of ageing homes.
Natalie Singh, Partner in Trowers & Hamlins Banking and Finance team, commented:
"It has been a pleasure to work with Midland Heart on the new loan facility with NatWest and we are delighted to support Midland Heart in their mission to deliver high quality and affordable homes for the people that need it most in the West Midlands."
Joe Reeves, Deputy Chief Executive at Midland Heart, said:
"This funding helps achieve Midland Heart's ambitions to lower carbon output and reduce fuel bills for residents to have a real and lasting impact. We are grateful to the teams who worked on this transaction, including Natalie Singh and Jasna Djurisic from Trowers & Hamlins."
John Drozd, Director of Corporate Finance at Midland Heart, added:
"Many thanks to the team, including our advisers Trowers & Hamlins, in getting this deal over the line in such an efficient and timely manner."
The Trowers team was led by Partner Natalie Singh, supported by Managing Associate Jasna Djurisic and Associate Jasmin Rakkar.
