Stonewater secures £50m loan

Stonewater announced the five-year revolving credit facility today.

John Bruton, group finance director at Stonewater, said: “We are very pleased with this transaction with Lloyds as the pricing is competitive and the terms are tailored to the circumstances of our corporate structure.” 

The cash will be used to support its plans to build 5,000 affordable homes for shared ownership and rent by 2027.

Stonewater was formed through the merger of Raglan and Jephson in January last year.

Jo-Ann Bonham, relationship director in Lloyds Bank Commercial Banking’s social housing team, added: “Having worked with Jephson and Raglan up until their merger and with the combined Stonewater group since, we’re pleased to be able to strengthen our support for the group with this revolving credit facility.”