Wain Group has secured £140m in new funding from Lloyds and NatWest to accelerate the housebuilder’s ambitious growth plans.
The financing will help Wain Group to deliver more homes, regenerate land and invest further in sustainable development.
The £140m package was provided equally by both banks with Lloyds the facility agent and security agent and NatWest the hedging bank.
Andy Campbell, group finance director at Wain Group, said: “Securing this £140m funding package marks a significant milestone for Wain Group as we continue to scale the ambition of our work. It will enable us to deliver more high quality homes, unlock further strategic land opportunities and strengthen our commitment to sustainable development across the regions we operate. We thank Lloyds for its continued support and are pleased to welcome NatWest onboard as we enter the group’s next phase of growth.”
Chris Yau, director, housing and sustainability and regional head of North West at Lloyds, added: “Wain Group is a major contributor to housing growth and regeneration across the UK and we’re proud to deepen our long-standing relationship by supporting this important £140m funding package. It reflects our broader commitment to enabling sustainable development, improving housing supply and backing strong regional businesses that are creating long term value for communities.”
Andy Clarke, director, corporate real estate finance at NatWest said “We are delighted to be supporting Wain Group with this facility, which will underpin the company’s next phase of growth and enable the delivery of high quality homes across future developments. This funding package also reflects our wider commitment to supporting regional businesses, helping to build thriving communities, enable sustainable development and increase the supply of much needed housing. We are looking forward to building on our current relationship with Wain Group over the coming years.”
Lloyds and NatWest were advised by Addleshaw Goddard and JLL. Wain Group was advised by Hill Dickinson.
