International law firm Trowers & Hamlins has advised Housing Plus Group on a £961 million funding package to support investment in their existing homes, deliver new homes and strengthen communities.
The funding package followed Housing Plus Group's merger with The Wrekin Housing Group in January 2025 and formed a key part of the organisation's post-merger integration strategy. As part of the transaction, The Wrekin Housing Group was brought into Housing Plus Group's group treasury vehicle structure, aligning funding arrangements across the enlarged group and creating a more efficient and streamlined financing platform to support future growth and investment.
The funding package involved the support of five funding providers, AIB, Barclays, Nationwide, NatWest and Santander. The new funding arrangements build on £806 million of existing facilities and involved new facilities, amendments and restatements of existing facilities and a restructure of existing private placements. The transaction also included amendments to a range of group funding documents to facilitate the integration of The Wrekin Housing Group into the Group's treasury arrangements and ensure alignment across the enlarged group's financing and security structure.
The Group now benefits from an agreed loan portfolio of more than £1.3 billion, providing significant financial support for the organisation to continue improving customers' homes, investing in neighbourhoods and delivering new homes where they are needed most across Shropshire, Staffordshire and Telford and Wrekin.
Natalie Singh, Partner in the Banking and Finance team, commented:
“The completion of this £961m funding transaction is a fantastic achievement for Housing Plus Group and delivers a comprehensive treasury restructuring that aligns financing arrangements and supports the group’s future investment and development ambitions. This transaction demonstrates the value of careful planning and a collaborative approach to complex financing projects.
We are grateful to the Housing Plus Group’s team for their partnership throughout the project and are proud to have advised the group on this landmark funding programme, and look forward to seeing the positive impact it will have on customers, communities and the delivery of new homes across the region.”
Richard Nowell, from Housing Plus Group, said:
“We are delighted with the results of this refinancing work, which Natalie and her team were instrumental in achieving. The new financing and simpler Group funding structure ensures Housing Plus Group is delivering on our key strategic pillars of improving our financial resilience and capacity, and doing more for our customers. The positive impact of this work will be long felt by the Group and our customers. This was a complex deal with many moving parts and relationships – through it all the Trowers team were fantastic legal partners, providing calm expertise and leadership to deliver by our deadlines. It’s been a real pleasure to work with Natalie and the rest of the team on this.”
Trowers advised on all finance and security aspects of the transaction, including the treasury restructuring required following the merger and the incorporation of The Wrekin Housing Group into the Group's funding arrangements. Nicola Almond, Legal Director, led on the property security aspects of the transaction, ensuring the new and existing facilities were fully secured and capable of being drawn down on completion. The finance work was led by Natalie Singh, Partner, supported by Robyn Asbury, Associate. Treasury advisers, Savills Financial Consultants, also supported on the transaction.
