We issued our first corporate bond in December 2013 through our funding vehicle Myriad Capital Plc, a wholly owned subsidiary of CHP. The fully secured £200m bond included £75m retained bonds and was shared between nine investors.
In November 2017, we sold the £75m of secured, retained public bonds. These were sold through Myriad Capital Plc and were successfully placed with high quality, long-term investors. The proceeds have been used to fund our ambitious development programme delivering around 1,000 new homes.
This year, we tapped the existing bond to secure an additional £50m (plus £19m bond premium), to support our ambitious plans to build more high-quality affordable homes in the eastern region. This will pay for an extra 500 new homes for affordable rent and shared ownership in the coming years.