Stonewater secures €233m from Lloyds Bank to invest in homes
Stonewater, which owns and manages around 36,000 homes for more than 78,000 customers, predominantly across central and the south of England, has refinanced its existing £125 million (€146 million/$159 million) facility and increased it by £75 million (€87 million/$96 million).
The social housing provider also took the opportunity to transition to a sustainability-linked loan where it will be it measured against three KPIs to receive covenants on its funding.
It has committed to investing in retrofitting existing homes — which can reduce the amount of energy a home uses — to ensure its stock exceeds the current minimum regulations and achieves EPC C earlier than the 2030 milestone.
As part of the new agreement, Stonewater has also pledged to deliver new affordable homes that surpass minimum planning regulations in relation to energy efficiency measures, with a high percentage reaching SAP 86 and above.
“Housing associations face many challen