This website is using cookies
This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.

Jigsaw Funding plc: 11 May 2022

The Jigsaw Group was formed on 3 April 2018 through the merger of New Charter Housing Trust Limited and Adactus Housing Group Limited. Upon the merger, Adactus changed its name to Jigsaw Homes Group Limited and is the 22nd largest Registered Provider of Social Housing in England. The core of the business is the management of social housing for rent. The Jigsaw Group provides homes to more than 71,000 residents and owns and manages over 35,000 homes across 29 local authority areas.
(Edited) Jigsaw Homes Group has secured a £360m Sustainability Bond in its debut issuance

Jigsaw Funding plc, part of the Group, successfully issued the 30 year bond, with £100m retained, at a rate of 3.375%. It received high levels of investor engagement, resulting in an oversubscription of almost three times.

It was supported in the process by NatWest as its sole sustainability structuring bank, book-runners NatWest and Barclays, funding advisor Savills and legal adviser Trowers. Funders’ valuation was provided by Savills Advisory Services Limited, with Addleshaw Goddard as legal advisers and security trustee M&G Trustee Company Limited.

Hilary Roberts, Group Chief Executive of Jigsaw Homes Group, said: “The level of investor engagement and oversubscription we received reflects our standing as one of the sector’s leading housing groups. Investors were attracted to our robust and consistent financial and operational performance, our track record as an established developer with a strong management team and clear commitment to sustainability. Jigsaw is now firmly established in the Public Bond market which will enable us to deliver more high quality and energy efficient homes.”