Abri has today taken an important step in being able to deliver its strategic commitments by creating greater flexibility in how it accesses long-term funding from investors.
Abri has put in place an arrangement that will allow it to access investment directly from financial markets in the future. This is being done through formally launching a £2.5 billion Euro Medium Term Note (EMTN) programme. EMTN is a recognised funding structure that allows organisations to issue bonds when market conditions are favourable.
Vimal Gaglani, Director of Corporate Finance said:
“Abri has ambitious plans to invest record amounts into our existing homes and build 20,000 new homes by 2036. Making sure we have access to a wide range of funding sources is a critical part in making it a reality.
“We’re excited to have launched our first EMTN programme, which will strengthen our ability to secure long-term investment in the future while ensuring we can choose the most appropriate and cost-effective funding available. By diversifying our funding we’ll remain financially resilient and have greater flexibility to invest where it makes the biggest difference for our customers and communities.”
While no immediate funding is being raised through the new arrangements, Abri is well positioned to access investment opportunities when market conditions are favourable.
To support this, Abri has refreshed its Sustainable Funding Framework which sets out how funding raised will support agreed environmental and social objectives.