Trowers & Hamlins has advised Legal & General Affordable Homes (Capital) Limited on a new £25 million revolving credit facility with HSBC UK Bank plc, to support the financing of social projects and its general corporate purposes. There is the option for Legal & General Affordable Homes (Capital) Limited to increase the total commitments to £100 million under the facility agreement, allowing the wider Legal & General group to meet its ambitions in line with its flagship Affordable Housing Fund, which was launched in July 2024 and which has a strategy designed to deliver over 5,000 homes by 2030.
Legal & General Affordable Homes (Capital) Limited is part of Legal & General's affordable housing division, which is committed to bettering people’s lives and ensuring that everyone has access to a safe and secure space to call their own.
Trowers & Hamlins has extensive experience advising For-Profit Registered Providers on debt funding arrangements and advised on all finance and security aspects of the transaction. The finance work was led by Natalie Singh, Partner, supported by Lara Marsden, Senior Associate, and Lowri Fernyhough, Associate. The security work was led by Hannah Jackson, Partner, supported by Will Sargeant, Associate.
Natalie Singh, Partner in the Banking and Finance team at Trowers & Hamlins, commented:
"We are delighted to have supported Legal and General Affordable Homes (Capital) Limited on this facility. The revolving credit structure provides the organisation with the flexibility it needs to pursue its important work in delivering social and affordable housing, and we look forward to continuing to support them."
