Trowers advises Origin Housing Limited on green private placement
International law firm Trowers & Hamlins has advised Origin Housing Limited on a £120 million green private placement with US and Canadian investors.
The private placement which has a deferred funding element features a green framework drafted in accordance with the Loan Market Association's green loan principles. Funds will be used in accordance with the green framework to finance and refinance buildings with an Energy Performance Certificate of A or B.
Origin's green private placement is believed to be only the second private placement in the sector linked to ESG factors.
Trowers real estate finance team acted on all the property security aspects of the private placement.
Banking and Finance partner Naomi Roper, commented:
"We are absolutely delighted to have supported Origin Housing Limited in relation to their first green private placement the funding from which will assist Origin in achieving their development and sustainability goals.
Gloria Yang, Director of Finance and Deputy CEO at Origin Housing Limited said:
"We have been very fortunate to have Naomi’s team advising us along the way of the transaction. With a transaction this size, with overseas investors and various compliance, legal, tax and ESG elements to consider, Naomi ensured an efficient and smooth flow of decision points leading to a successful closing."
The banking team was led by Naomi Roper with Lara Marsden assisting. The real estate finance team was led by partner Katie Dyer, with Forhad Ahmed assisting.