London Stock Exchange welcomes Clarion Housing Group celebrating its sustainable bond issuance

Clarion Housing Group has today opened the market at London Stock Exchange via a virtual ceremony to mark the listing of its new £300m 1.25% 2032 Sustainable Bond on London Stock Exchange’s Sustainability Bond Market.

Clarion Housing Group is the largest provider of affordable housing in the UK, with around 125,000 properties and more than 350,000 residents. It is also a developer of new homes as well as a landlord, building thousands of new homes each year. The Group invests in its residents and their communities through its charitable foundation, Clarion Futures. 

The 12 year bond was priced at a coupon of 1.25 per cent. The bond was significantly oversubscribed, with around £850 million in orders. Investors included central banks, ESG (Environmental Social and Governance) and ethical investment funds. The new bond was arranged by HSBC, NatWest Markets and Santander. Proceeds are exclusively for the development of new affordable energy efficient homes.

This successful issue follows a pioneering £350 million Clarion bond in January and underlines the demand to support an organisation delivering strong financial results and committed to ESG principles.

Last month Clarion published its inaugural ESG performance report, detailing environmental, social and governance performance as well as incorporating the metrics from the newly launched Sustainability Reporting Standard for Social Housing. 

Mark Hattersley, Chief Financial Officer at Clarion Housing Group, commented: “This very successful bond issue will enable the Group to further pursue its mission by delivering much needed energy efficient affordable homes.

We are delighted with the result, which underlines the strength of our funding platform and the attractiveness of Clarion as an investment proposition to a diverse range of investors.”

Quick facts

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Market: Main Market
Instrument market cap (£m)
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13 Nov 2020
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