Another day, another deal – this time it’s the Longhurst Group confirming completion of an increased and extended £100m Revolving Credit Facility with Barclays.
As reported by 24housing, it’s been a big week for financial faith in the sector.
Longhurst will use the funding to further support its development programme – in particular 800 units under the Homes England partnership across the East Midlands.
As one of the largest providers of affordable housing across the Midlands and the East of England, Longhurst now has 23,000 homes operating across 50 council areas.
“We’re delighted to have increased and extended our revolving credit facility with Barclays. We’re committed to making a real difference to the housing crisis by building more homes for social rent, affordable rent and shared ownership.
“Barclays understand our business and have supported Longhurst for a number of years in terms of providing finance for our development programme and we’re really pleased to be working with them over the next few years to deliver more new homes,” said Rob Griffiths, Chief Finance Officer, Longhurst Group.
David Glover, Barclays Relationship Director, said: “We have a strong and longstanding relationship with Longhurst Group so for Barclays to support the next stage of their evolution with an increase and extension to their borrowing facilities makes good business sense and underlines our ongoing commitment to the Social Housing sector in the UK.”