Affordable homes provider VIVID has secured a new £100m sustainability linked facility with ABN AMRO. The company said the funding supports its “desire and objective to build and develop more energy efficient, affordable homes”.
The facility is unsecured and has metrics linked to VIVID’s environmental, social and governance work.
Duncan Brown, chief finance officer at VIVID, said: “We’re delighted to work with a relatively new entrant to UK social housing and we look forward to a long and productive relationship.”
Richard Smith, director, UK corporate client coverage at ABN AMRO, added: “We are excited to be starting this new relationship with VIVID and to be further extending our support to the UK social housing sector. VIVID’s strong credit and regulatory ratings, coupled with their sustainability ambitions make them an ideal client for ABN as we look to expand in the UK and deliver on our own sustainability goals.”
Paul Stevens, from Centrus, which advised VIVID on the new facility, said: “Centrus is delighted to have advised VIVID through the process of identifying the right banking partner for this facility and in negotiating very supportive terms which fully align with the funding objectives. These terms reflect both the very strong credit risk profile of VIVID, but also a collaborative and flexible approach by ABN AMRO.”
