Catalyst secures £50m socially linked loan
Catalyst Housing association has secured its first loan linked to social performance.
The new £50m revolving credit facility with Sumitomo Mitsui Banking Corporation (SMBC) incorporates a margin reduction if Catalyst meet set targets to assist customers with maximising income. Outcomes will be reported in Catalyst’s annual accounts.
The loan is one of SMBC’s first social performance linked loans in the housing sector and aims to further UN Sustainable Development Goals 1 (No poverty) and 8 (Decent Work and Economic Growth).
The housing association has a dedicated community investment team called Catalyst Communities that work across London and the wider south east, with a special focus on Catalyst neighbourhoods. Catalyst Communities runs and funds a wide range of projects, including youth mentoring schemes and apprenticeship and employment programmes.
Michaela Booth, Director of Corporate Finance said: ” At Catalyst our investment in our communities is a key part of staying true to our social purpose. Our Catalyst Communities team help our customers with income maximisation through finding decent employment aiming to mitigate the risk of poverty. This new funding from SMBC fits perfectly with our commitment to investing in our communities.”
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NOTES TO EDITORS
More information on Catalyst
Catalyst is one of the leading housing associations in London and the South East, managing over 34,000 rented and shared-ownership homes.
We are experts in placemaking and developing tenure-blind neighbourhoods, with a strategy in place that will see us build 1,300 homes a year. Our approach to creative design, effective urban planning and high-quality development is underpinned by our long-term interest in our neighbourhoods.
By adopting a stewardship role, we ensure that the places we help to create are well maintained, look great and remain desirable places to live. A prime example of Catalyst’s work is our flagship regeneration project in North Kensington, Portobello Square.
For more information, please contact:
Charlotte Stamper – Head of External Affairs
020 3693 2464 | 07815525365
Calum McConnachie – External Affairs Manager
020 8832 3139 | 07779 288 489