Radius invests in 500 new homes after £75m loan
The £75m facility with Danske bank is a sustainability-linked loan, where the cost of the debt is linked to sustainability objectives.
The social enterprise has targets focusing on reducing greenhouse gas emissions and improving energy performance certificates (EPCs).
Radius provides housing, care and support to 30,000 homes on the island of Ireland. It has a staff of around 1,000 people.
It manages 14,000 properties across all 11 council areas in Northern Ireland, with a presence in 80 different towns.
Alan Thomson, director of finance at Radius Housing, said: 'Radius Housing is committed to improving the sustainability of our business practices as part of our continual focus on improving the service that we provide to our tenants.
'Agreeing this sustainability linked loan with Danske Bank is the next step on our journey and aligns with our strategy to ensure sustainability is embedded in all of our new and retrofitted homes, helping Radius become one of the most efficient and sustainable housing providers in the region.'
News Catch Up - Tuesday 17th June
Claire McKeown, corporate relationship manager at Danske Bank said: 'We are delighted to provide this significant financial package to Radius Housing to support them in their mission to become one of the most sustainable and efficient housing providers in Northern Ireland.
'Thanks to close collaboration with Savills Financial Consultants and the legal teams in Shoosmiths, TLT, Anthony Collins and Wilson Nesbitt, we were able to facilitate a quick completion on the funding.'
Dominic O'Neill, senior corporate relationship manager at Danske Bank added: 'Danske Bank has been a lead provider of finance to the social housing sector in Northern Ireland for many years and we want to continue to help the sector to thrive and meet the needs of people across Northern Ireland.
' The funding underscores our commitment to sustainable development and supporting communities across Northern Ireland.' Radius have recently welcomed the first tenants into new homes on the £5.4m development in the Oaks Road, Dungannon.
It invested £2.43m into the 30 new two-and-three bed homes. The housing provider was also one of the winners at last years Belfast Telegraph Property Awards, picking up a prestigious prize for the Creevagh Heights and Sean Dolan's GAC Community Facilities project in Derry.
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