Construction News

06/07/2016

Social Housing Provider Secures £50m Bank Loan

A social housing provider has secured a £50 million bank loan to support its housing development scheme.

Stonewater agreed the deal with Lloyds Bank Commercial Banking and the terms have been tailored to the circumstances of its corporate structure.

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Jo-Ann Bonham, Relationship Director in Lloyds Bank Commercial Banking’s social housing team, said: "Having worked with Jephson and Raglan up until their merger and with the combined Stonewater group since, we’re pleased to be able to strengthen our support for the group with this revolving credit facility.

"Stonewater provides much-needed affordable homes across England and the new credit facility will help with its plans to build thousands of new properties over the next decade."

(CD)

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