International law firm Trowers & Hamlins has advised homes and communities organisation Livin Housing on a large scale refinancing project, comprising a debut £65 million private placement and a total of £55 million of term and revolving credit facilities with new lenders.
The financing facilities were used in part to refinance Livin's original stock transfer loan facilities and have generated additional financial capacity which will be used to fund the organisation's continued development, whilst also addressing its long term funding needs which it will use to support its on-going growth. The organisation currently manages around 8,400 homes across Co. Durham.
Partner Neil Waller commented:
"We are delighted to have helped secure this financing for Livin Housing, working with a number of different parties against unusually tight deadlines to achieve a great result - and just in time for Livin's tenth anniversary".
Manchester based Banking and Finance partner Neil Waller led the firm's team on negotiating the private placement and facility agreements, with assistance from solicitor, Daniel O'Brian and paralegal, Fahwad Khan.
Trowers' Real Estate Finance Security Team also advised on all related property security aspects of the deal, carrying out due diligence on over 8000 properties.
The team was led by property security partner Melanie Comer, with senior associates Nicola Almond and Rachael Mehta and associate Lauren Mason-Smith.