At a glance:
Credit Rating: A, outlook stable
Homes England compliance: V1G1
Stock: 12,815 homes
Turnover 2020/21: £76 million
We’ve built our development programme from a strong financial foundation and have the arrangements in place to achieve our ambition to deliver more than 500 homes a year. In 2017, we secured an £80 million loan investment from Lloyds Bank Commercial Banking and Handelsbanken to facilitate our further growth and development. This loan is in addition to the successful pricing of a £150 million bond issue (including £45 million retained bonds) which we announced in 2014 through our treasury financing company, Cambridgeshire Housing Capital plc. The bond carries a coupon of 4.250% and has a maturity of 31 years, and was priced at a semi-annual yield of 4.297%. This equated to a spread of 1.20% over the benchmark gilt at the time of pricing.
In November 2019, Cambridgeshire Housing Capital issued a further £100 million 4.25% secured bonds, with draw down deferred until September 2021, through a tap on its existing bond. View documents related to Cambridgeshire Housing Capital bonds.
In 2021, we announced one of the first SONIA (Sterling Overnight Index Average) funded loans, a risk-free loan, secured in the housing association sector. The £50 million funding package from Natwest is being used to continue to drive our development ambitions.
In 2022, Standard and Poor’s confirmed that we achieved an A rating and an improved stable outlook. Read more about our Standard and Poor's rating.
The Regulator of Social Housing has judged CKH to have the highest rating for Viability and Governance – V1G1. The focus of its regulatory activity is on governance, financial viability and financial value for money as the basis for robust economic regulation.