Financial stability in the current economic climate

In November, Circle announced the issue of £275 million Secured Bonds due in 2038. The bonds are secured by assets and guarantees provided by six Registered Providers (RPs) within the group. The launch of the deal means that Circle’s 30-year business plan is now fully-funded through committed long term facilities.

This deal was part of a £1.5bn Note Programme structured jointly by TradeRisks and RBC Capital Markets. Calum Mercer, Group Finance Director, said "We are pleased to have secured additional long-term funding for Circle. Investors have recognised the strength of our business, our track record and clarity of strategy. Our financial and commercial strength underpins our success as we reinvest all profits back into the business to fulfil our social objectives.

As one of the largest housing groups in Greater London and the South East, we are a core part of our communities. Our scale and concentration of housing is key to achieving a higher quality of accommodation, and greater efficiency, flexibility, and stability.

We will continue to improve the housing and lives of those in our communities, and to have a real impact by delivering our social purpose.

20/01/09 17:31