Chicago, March 18 – Places for People Treasury plc priced £100 million of additional 5.75% guaranteed sustainability notes due May 11, 2055 (A3/A-/A), according to a term sheet.
The issue price is 100.542, with interest from Nov. 11, 2023 to the issue date.
HSBC Bank plc and NatWest Markets plc sold the Regulation S add-on.
The notes were issued under the company’s £3 billion euro medium-term note program.
The notes will be consolidated and form a single series with the company’s existing £100 million of 5.75% sustainability notes due 2055 issued in £75 million and £25 million tranches on May 11, 2023 and Sept. 1, 2023, respectively. A second add-on for £105 million was issued on Sept. 8, 2023. This is the third add-on.
The notes are jointly and severally guaranteed by Places for People Homes Ltd., Places for People Living+ Ltd. and Castle Rock Edinvar Housing Association Ltd.
The notes will be listed in London.
Places for People is a London-based housing service and regeneration company.
Issuer: | Places for People Treasury plc
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Guarantors: | Places for People Homes Ltd., Places for People Living+ Ltd. and Castle Rock Edinvar Housing Association Ltd.
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Amount: | £100 million
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Issue: | Guaranteed sustainability notes
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Maturity: | May 11, 2055
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Bookrunners: | HSBC Bank plc and NatWest Markets plc
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Coupon: | 5.75%
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Price: | 100.542
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Yield: | 5.712%
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Call features: | From Feb. 11, 2055 at par
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Trade date: | March 18
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Settlement date: | March 20
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Ratings: | Moody’s: A3
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| S&P: A-
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| Fitch: A
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Distribution: | Regulation S
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ISIN: | XS2620911128 (temporarily XS2787871842 until consolidation)
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Total issue size: | £305 million
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