Blaenau Gwent-based Housing Association Secures £105 Million Long-Term Debt Refinancing with NatWest Group
In a groundbreaking move that promises to transform the landscape of affordable housing in Blaenau Gwent, Tai Calon Community Housing, the largest provider of homes in the region, has achieved an extraordinary milestone. The organisation recently finalised a £105 million long-term debt refinancing partnership with NatWest Group. This landmark agreement, concluded on Friday, 28th July 2023, ushers in a new era of growth and progress for Tai Calon and the communities it serves.
This refinancing deal allows Tai Calon to access a level of funding flexibility typically associated with developing housing associations. Until now, the organisation had only ventured into one small Housing First scheme and is developing a modest housing project in Ebbw Vale. With the support of NatWest Group, Tai Calon can now embark on a full-scale development program to construct new affordable homes for those in need across the county of Blaenau Gwent.
Howard Toplis, Chief Executive at Tai Calon, expressed his enthusiasm for this game-changing partnership: "With the support of the NatWest Group, we can now start a development program of new affordable homes for those in need within the county of Blaenau Gwent. This is an exciting opportunity to make a real difference in the lives of our communities and address the pressing demand for quality and affordable housing."
While development lies at the heart of Tai Calon's mission, it is only one part of the organisation's three key objectives. Howard Toplis elaborated, "Development is only one part of three key objectives to Tai Calon's mission, the other two being customer satisfaction over 90% and reducing the energy costs of the existing homes for the benefit of our customers and the planet. With this refinancing, we are pushing forward on all three objectives."
The refinancing initiative received an overwhelming welcome from Dharmesh Patel, Associate Director at the NatWest Group, who remarked, "We are really pleased to support Tai Calon and welcome the positive social and environmental impact that our funding will have for the communities in Blaenau Gwent. This collaboration exemplifies NatWest Group's commitment to supporting initiatives that create a lasting impact on communities."
Tai Calon's journey towards securing this significant refinancing milestone was made possible by the valuable expertise and guidance of their funding advisors, 2Tix Ltd, and the dedicated legal counsel provided by Clarke Wilmott.
The successful £105 million long-term debt refinancing partnership with NatWest Group marks a significant turning point for Tai Calon. Empowered with greater funding flexibility, Tai Calon is now set to forge a brighter future for affordable housing in Blaenau Gwent.