Orbit Group is committed to its communities with 50 years’ experience in the housing sector. As one of the largest housing providers in the country, we manage over 40,000 homes across the midlands, east and south east. Our annual turnover is in excess of £300m and we are one of the largest developers in our sector with a programme of homes for social rent, affordable rent, shared ownership and market sale.
We employ more than 1,200 people to deliver our mission of Building Communities and we achieve this by working together to improve the social, economic and environmental prospects of people and communities. This mission forms the basis of our 2020 Vision guided by our passions, principles and resources.
- Moody's Report
[Update 31 May 2018]
- Latest news
Orbit raises £450m in bond deal
8 June 2018
Orbit, one of the largest housing groups in the UK has secured £450m in a 30-year bond deal to support its ambition of delivering 20,000 new homes over the next 10 years.
The 42,000-home landlord raised the senior secured bonds with a coupon of 3.375% and an all-in cost of finance at 3.46%.
Joy Baggaley, Group Finance Director at Orbit, added: “We set out to put in place stable, long-term funding to support our development programme and deliver much needed homes. We were delighted by the strong level of interest from the investor community evidenced by the significant oversubscription in our issue, which meets all our corporate finance and business objectives.”
Orbit met around 25 investors during its roadshows. Bookrunners were Barclays, HSBC, Lloyds Bank and NatWest Markets.
Ratings agency Moody’s recently confirmed Orbit’s high A2 credit rating, changing the outlook from stable to negative to reflect its plans to increase capital expenditure. The agency highlighted Orbit’s ‘strong market position in the Midlands and its healthy unencumbered asset position which enhances its borrowing capacity’.
A leading developer in the social housing sector, Orbit delivered 2,030 new homes last year of which 1,210 were social and affordable homes, making a marked contribution to the country’s housing supply.
- Grenfell Tower update
We can confirm all of our blocks meet current fire safety standards and regulations and all have valid, up-to-date Fire Risk Assessments (FRAs) in place. Please note all FRAs are completed by independent experts and not by internal teams at Orbit.
We have completed visits to all of our blocks, reassuring customers about fire safety.
All of our blocks are compliant with the DCLG requirements; we have been working closely with the DCLG, sharing information as required. Once the ‘Grenfell Tower Inquiry’ has taken place we will review the findings and take action where appropriate.
- Financial Results
Please see our latest financial statements below for information on our financial performance across the Group. You can also explore archived statements for previous financial years here.
- Group Financial Statements 2016 - 17
- Heart of England Housing Association Ltd 2016 - 17
- Orbit Treasury Limited 2016 - 17
- Orbit South Housing Association Limited 2016 - 17
- Orbit Homes 2020 Ltd 2016 - 17
- Orbit Capital Plc 2016 - 17
At Orbit we take Value for Money very seriously. You can find our Value for Money Self Assessments and our Value for Money framework here, explaining how we drive efficiency across Orbit: View Value For Money area
- Orbit Information
Explore the people that make up our the Group Board and Executive Team at Orbit:
Further information surrounding our governance and regulation:
Governance rating – G1. The provider meets the requirements on governance set out in the Governance and Financial Viability standard.
Viability Rating – (V2). The provider meets viability requirements and has the financial capacity to deal with a reasonable range of adverse scenarios. (issued November 2017)
- Future Plans
Information around our business plan and all latest reports can be found here.
- Investor Contacts
As a valued investor, your primary contacts can be found below:
Jonathan Wallbank - Treasury Director
Email - email@example.com
- Debt Investors
Orbit Capital plc - GBP 450m 3.375% 30 year due June 2048