Vivid secures £100m sustainability-linked facility with HSBC

Duncan Brown, chief finance officer of Vivid, added: “We’re excited to bring in a new lender into our funding pool, well known in the UK, with a growing footprint across the housing association sector.”

David Whelan, director of social housing and real estate finance at HSBC UK, said the bank had “built a strong relationship with the Vivid team” and looked forward to supporting the housing association in future.

Solicitors Bevan Brittan and Addleshaw Goddard worked with Vivid on securing the loan.

In its recently announced annual results for the year to 31 March 2024, Vivid reported building a record number of homes during the period, thanks in part to its focus on operational efficiency.

Mark Perry, chief executive of Vivid, told Inside Housing the landlord had “kept quite a tight watch, not just last year, but over the last few years, on our finances to make sure that we’re running the organisation as efficiently as we can”.

In April, the landlord announced it had borrowed £75m through a sustainability-linked loan from Nationwide, which included a target related to its status with the English regulator.

The 10-year facility requires Vivid to meet certain environmental, social and governance metrics, one of which is maintaining its G1 rating for governance with the Regulator of Social Housing.