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Orbit announces first public bond

Orbit Group is announcing its intention to launch its first public bond. 

The announcement comes as the Group also publishes its A1 credit rating from Moody’s Investor Service.

Lloyds, Santander and HSBC have been appointed to arrange a series of investor meetings commencing on 12 March.

The own name bond will be issued for the value of £250m. The bond proceeds will be used to support Orbit's development and community programmes, as part of its 2020 Vision. 

Anne Turner, Chief Operating Officer for Orbit Group, said: "This rating reflects Orbit’s financial strength and successful track record of profitable growth. 

"As well as the target of 12,000 new homes as part of Orbit’s 2020 Vision, the bond will also support two other key priorities of investing £30m into communities; and investing in existing homes to bring them to at least Grade C energy efficient compliant to help address resident fuel poverty."

Orbit is a Registered Provider of Social Housing which owns and manages 38,000 properties in the Midlands, South, East and London. 

Find further information on the Moody’s A1 credit rating here

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