Posted on the 2nd May 2018
We’ve secured £100 million of funding from American corporate investor Barings to support our ambitious development plans to build 600 homes a year for the next three years.
The proceeds of the private placement will be drawn down in two instalments. The first tranche of £60 million, with a coupon of 3.25% a year was drawn for immediate usage and the second tranche of £40 million, with a coupon of 3.4%, will be drawn down in 2019. The borrowing is due for repayment in 2048.
“This is a phenomenally good deal for an organisation our size and I am delighted that our building programme is secure thanks to this investment” says Paradigm Chief Executive, Matthew Bailes.
“Our purpose is to provide new homes for people who need them the most and this funding is a key factor in helping us achieve this. We had a great deal of interest and a number of bids which reflects very well on Paradigm and bodes well for our sector. ”
The deal was arranged by Santander on behalf of Paradigm and the financial advisor was Traderisks.
Posted 09 Apr 2024
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Posted 02 Apr 2024
Welcome to Richard Moriarty who has taken over as Chair of our Board, succeeding Julian Ashby who has stepped down after six years in the role. Richard Moriarty, who is CEO of the UK’s Financial Reporting...
