Bevan Brittan backs housing firm’s £70m deal

Bevan Brittan has revealed its role on a Horsham-headquartered housing association, which owns and manages 6,750 properties across Sussex and Hampshire, completing a £70m sustainability-linked private placement with LGIM Real Assets.

Saxon Weald provides affordable rented and shared ownership homes for individuals and families, as well as properties exclusively for the over-55s.

The proceeds of LGIM Real Assets’ investment will be used to finance new homes designed to be energy efficient as the UK moves towards meeting its Net Zero targets and being fit for the future, with the housing sector requiring rapid and radical change.

The housing finance team at Bevan Brittan – led by Wendy Wilks and Jessica Church – advised on the security aspects of the funding project.

It worked closely with M&G Security Trustee to release properties from a Bond facility and to re-allocate properties with Saxon Weald’s Security Trust.

Jessica Church, housing finance specialist and partner at Bevan Brittan, said: “We are thrilled to have supported Saxon Weald on the security aspects of this private placement, which will drive forward Saxon Weald’s sustainability strategy and will deliver energy efficient homes in the Horsham area with a target of EPC Band A for new-builds.

“Saxon Weald had an impressive knowledge of the security lists and documentation and their highly methodical approach greatly assisted the efficiency of the process and allowed us to resolve security issues quickly with maximum results.

“It was a real pleasure to work with such an organised and helpful team.”

Mark Pavlovic, Saxon Weald’s financial planning and treasury manager, added: “It has been great working with the Bevan Brittan team. Thanks for all the effort everyone has put in – Bevan Brittan made it easy for us, and it is much appreciated.”