Anchor Secures Two Private Placement Shelf Facilities from Legal & General Investment Management and Sun Life Capital Management Totalling £150m

Anchor, England’s largest provider of specialist housing and care for people in later life, is pleased to announce the closing of two new private placement shelf facilities totalling £150m from LGIM and Sun Life.

The LGIM facility totals £100m and Sun Life facility totals £50m. £25m in aggregate was drawn at completion of the facilities with the remaining £125m available for general corporate purposes, including the development of additional homes, over the coming years.  

A not-for-profit Registered Provider of Social Housing, Anchor manages almost 55,000 homes for both rent and sale to those aged 55 and over, serving more than 65,000 residents. Anchor is looking to grow the number of energy efficient homes it provides through development and care home acquisition. Through its development programme, Anchor anticipates delivering an average of at least 500 homes a year over a rolling 10-year period in addition to growing the number of homes for people in residential care.

Centrus acted as financial advisor and arranger on the transactions. Devonshires Solicitors LLP acted as legal counsel to Anchor and Greenberg Traurig LLP acted as investor legal counsel to LGIM and Sun Life.

Amanda Holgate, Chief Financial Officer at Anchor said:

These facilities will help us to continue to increase our provision of affordable and energy-efficient homes for people in later life. We anticipate ongoing strong demand as, with an ageing society, the need for such properties has never been greater.

Scott Douglas, Director - Capital Markets at Centrus said: 

We are delighted to have supported Anchor by arranging these £150m facilities from Legal & General Investment Management and Sun Life Capital Management. This transaction provides diversification to Anchor’s already significant financing base and allows them to quickly access additional long-dated capital markets funding at short notice, helping deliver more high-quality, energy efficient homes for those in later life.

Steve Bolton, Head of Corporate Private Credit at Legal & General Investment Management said:

We’re really pleased to strengthen our partnership with Anchor, helping them to create more specialist housing across the UK for those in later life. Institutional investment can play an important role in helping to address societal challenges, and organisations like Anchor provide an enormous contribution in terms of social value.

Nushi Kazemian, Managing Director – Private Fixed Income at Sun Life Capital Management said:

We are pleased to have closed this shelf facility financing with Anchor, and look forward to being a long term funding partner assisting them in achieving their goals.