Hill secures £220m sustainability-linked loan from Lloyds, NatWest, HSBC and Santander



The Hill Group has completed the full refinance of its group portfolio after securing a £220m, five-year sustainability-linked loan from Lloyds Bank, NatWest, HSBC and Santander.


The loan is a renewal of the housebuilder’s initial £200m revolving credit facility provided by the banks — which was last extended in December 2017 — with Santander committing an additional £20m this year.

The funds will support the group’s five-year plan to double the size of the business to £1.2bn by 2025.

The housebuilder will benefit from a lower interest cost as their green credential increase in the future, based on four sustainability criteria:

  • biodiversity net gain
  • reducing operational carbon
  • reducing scope one and two carbon
  • the company’s overall sustainability rating measured by the NextGeneration scoring system

The new facility will fund Hill's long-term development projects, including the Knights Park development in Cambridge, the Woolwich Leisure Centre mixed-used regeneration project comprising 500 new homes and community facilities, and the regeneration of the Teviot Estate in Tower Hamlets, London.

Tony Parker, finance director at Hill, said: “Our sustainability-linked loan refinancing is an important step in our overarching group vision to become a leading sustainable housebuilder in the UK. 

“We are extremely pleased with the confidence that these leading banks have placed in our long-term development plans.’’

David Cleary, head of housing at Lloyds Bank, who acted as sustainability co-ordinator for the deal, added: “We are delighted to have helped complete the refinancing of Hill's assets in partnership with NatWest, HSBC and Santander in our first SLL of the year in the housebuilding sector. 

“It is a great step towards achieving a more sustainable future and we hope to see more housebuilders follow suit in the near future.’’



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