Investors
Yorkshire Housing is the largest housing association focussed solely in Yorkshire. It has a broad-reaching portfolio across 20 local authorities throughout Yorkshire and provides over 16,500 homes across a range of tenures. It also supports over a thousand elderly or vulnerable tenants. It is a trusted partner of MHCLG, one of just 23 national strategic partners. Find out more here.
One of our ambitions is to be the first choice for anyone in Yorkshire who wants to buy or rent a home. To achieve this, we have a vibrant development programme and plan to deliver 8,000 new homes by 2030. It’s not just about housing units or numbers for us. Our vision is to make it possible for people to have a place they’re proud to call home.
G1 and V2 regulator ratings retained
Yorkshire Housing has retained its G1 rating from the Regulator of Social Housing (RSH) for governance and its V2 grading for viability in 2021.
Governance
Support
Yorkshire Housing bond sale
Yorkshire Housing which owns and manages 18,000 homes has sold £55m of retained 2044 bonds with a coupon of 4.125% per cent.
The retained sale of the existing 2044 bond was the first corporate sterling market deal of 2022 and achieved a yield of 2.51% which is 117 basis points over gilts. The deal was 3.6 times over-subscribed with the initial pricing guidance set at a spread of 130 basis points and substantial demand from investors allowing the spread to tighten significantly to 117.
The bond sale has raised over £70M from investors.
The funds will be used to finance Yorkshire Housing’s development plans to build 8,000 new affordable homes by 2030.
The sole bank on the transaction was NatWest.
Andy Oldale, Executive Director Finance & Governance commented: “We’re delighted with the outcome of our £55m retained bond sale and the support we received from NatWest and advisors Chatham in delivering this. The funds we’ve raised will play a key role in enabling us to deliver our plans to provide more affordable homes for people across Yorkshire.”
George Flynn, NatWest commented: “It has been a pleasure supporting Yorkshire Housing in this highly successful transaction achieving their core financing objectives and reopening the sterling corporate bond market for 2022. This provides a very strong platform for future bond transactions and supports the continued delivery of Yorkshire Housing’s corporate strategy.”
Financial reports
- Annual report and financial statements 2020-21
- Yorkshire Housing finance annual report 2020-21
- Annual report and financial statements 2019-20
- Annual report and financial statements 2018-19
- Annual report and financial statements 2017-18
- Annual report and financial statements 2016-17
- Annual report and financial statements 2015-16
Financial reports
- Annual report and financial statements 2020-21
- Yorkshire Housing finance annual report 2020-21
- Annual report and financial statements 2019-20
- Annual report and financial statements 2018-19
- Annual report and financial statements 2017-18
- Annual report and financial statements 2016-17
- Annual report and financial statements 2015-16
Credit ratings
Yorkshire Housing has a credit rating of A3 from Moody’s based on a number of credit strengths including a stable income stream and consistent profitability, moderate and stable debt and a simple corporate structure. The social housing sector relies on potential government support in the case of any financial difficulty which is reflected on all credit ratings issued to housing associations.
Moody’s report
You can view the latest Moody’s report here.
Bond prospectus
You can view our latest bond prospectus here.
Bond prospectus
Investor presentation
You can view our most recent Investor Presentation by clicking the link below.
