Paradigm secures £100 million of funding

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.

Read more posts...

Vacancy – Chair of Audit & Risk Committee

Posted 14 May 2018

We are looking for a new Chair of Audit and Risk. The Chair of Audit and Risk will be leading a skilled committee to ensure that our approach to business assurance is robust but also enables...

Milton Keynes Jobs fair 16th May

Posted 30 Apr 2018

Are you currently looking for work? Come along to the Milton Keynes Jobs fair to speak to a range of employers face-to-face! The event will take place from 10am – 1pm 16th May at Double Tree...