Use of Proceeds The allocation of our bond has been in two major tranches: refinancing and financing. 70% of the bond (£245,000,000) was allocated on issue to re-financing Anchor’s existing loan book. Historic borrowings had been used to fund the delivery of eligible social assets with a combined value of circa £1.2bn on a net book value basis, as at 31 March 2020. 30% of the bond was allocated to new eligible projects in accordance with the Sustainability Financing Framework, and as at 31 March 2023 had been fully allocated to eligible projects. On issue July 2021 March 2022 March 2023 Total Refinancing £245.00m £245.00m Financing £26.95m £78.05m £105.00m £350.20m While 100% of the bond allocation across refinancing and financing has ultimately supported the provision of essential services to meet the needs of an ageing population, the forward-looking financing element of the bond has been allocated primarily to Green Buildings with a small proportion allocated towards the provision of new Affordable Homes. Eligible project category Site progress March 2022 March 2023 Total Green Buildings Completed £26.95m £36.30m £63.25m Green Buildings Under construction - £38.52m £38.52m Affordable homes Completed - £3.23m £3.23m £26.95m £78.05m £105.00 m
66
Made with FlippingBook - PDF hosting