Platform doubles EMTN programme capacity to £2bn

The provider said that the programme demonstrates its “commitment” to continue investing in both new homes to help solve the housing shortage and in its existing housing to tackle the net zero carbon challenge in the UK. 

The housing association, which owns around 50,000 homes across the Midlands, said doubling the EMTN programme to £2bn signals that it will look to fund these investments through the debt capital markets.

Platform launched its £1bn EMTN programme in 2021. The housing association last used it when issuing a £250m bond in April last year.

Rosemary Farrar, chief finance officer at Platform, said: “We are delighted to have increased the quantum of our EMTN programme, which will continue to play a key part in our treasury strategy for the coming years. 

“The programme signals that Platform is committed to fundraising from the capital markets and with our A+ ratings we remain a sound investment. 

“It will help us access the funding that we need to invest in our homes and our communities as we continue to help alleviate the Midlands housing shortage and provide enhanced life prospects for more people.” 

NatWest Markets acted as sole arranger and sustainability co-ordinator on the programme enlargement and framework publication. Bevan Brittan and Addleshaw Goddard worked as legal counsel to Platform and the joint dealers respectively.

According to its results for 2024-25, the housing association invested £313.2m in new homes and £39.4m in existing homes during the year. This was a rise from £250.6m spent on new homes and £24.4m on existing stock in the previous year.

In 2024-25, the landlord completed 1,202 homes, up from 1,114 in 2023-24.

In December, Platform retained its G1/V1 grades from the Regulator of Social Housing.