JMB

CLANMIL TIES UP THREE-WAY FINANCE PACKAGE WORTH £135 MILLION

TOP UK AWARD FOR CLANMIL FINANCE DIRECTOR.jpg
 

Pictured are Steve Amos, Clanmil Housing Chair; Jonathan Boggs, Clanmil Housing Group Finance Director; Paul Givan MLA, Minister for Communities; Clare McCarty, Clanmil Housing Group Chief Executive; Philip Monaghan, Clanmil Housing  Development Officer

30 June 2016

One of Northern Ireland’s leading social landlords, Clanmil Housing Group, has confirmed a £135m finance agreement with three lenders in Northern Ireland.

The package will underpin plans to build 2,500 new social homes over the next eight years as well as modernising some existing homes.  It combines loans from Danske Bank (£60m), First Trust (£50m) and Ulster Bank (£25m), all on attractive terms, and will enable Clanmil to access grants from the Department for Communities, combining public and private funding to create a total investment of some £315m.

The investment is expected to generate up to 500 construction jobs and support more than 400 associated jobs in the supply chain.

Jonathan Boggs, Clanmil Housing Group Finance Director said:
“Deals of this volume and with three lenders represent a strong vote of confidence in the social housing sector and our ability to deliver on ambitious targets. This funding package will allow Clanmil to continue our programme of development, helping reduce the housing waiting list by building high quality homes in areas where they are needed most and strengthening those communities by creating great places to live. 
It is good to see banks investing with confidence in large social programmes like ours and we have worked smartly to secure a mix of funding that will yield a range of positive results, including jobs and homes, over the next decade. The deals represent good business for Clanmil and also for the public purse, making the public money available for new homes go much further.”