Wilson Nesbitt advises Radius Housing Association as it raises £105m to invest in affordable housing
Wilson Nesbitt advises client Radius, the largest housing association in Northern Ireland, on the real estate elements of its £105m private bond placement with 7 international investors, secured against a portfolio of c 3000 properties located in Northern Ireland.
Working with counterparts in England and the USA, Wilson Nesbitt, the leading independent Northern Irish law firm, has advised Radius on the real estate elements of its private bond placement. The bond will significantly reduce Radius’s cost of borrowing enabling them to build more new quality homes. This at a time of acute housing stress.
Partner, Drew Nesbitt, led the Wilson Nesbitt team advising on the real estate elements of the private placement. He commented “We’re delighted to be able to advise Radius on the Northern Irish real estate elements of its bond placement. This is a great example of local expertise helping a key client to access finance on international markets which can then be reinvested in the local social housing sector. We understand this is one of the largest loan transactions of its kind in Northern Ireland this year”.
Director of Finance at Radius, Alan Thomson stated “This was a complex deal, carried out within a very tight timescale and requiring careful negotiation with US and UK lawyers. The Wilson Nesbitt team provided the necessary flexibility, expertise and attention to detail, to get us over the line”.