SANCTUARY HOUSING ASSOCIATION

Promoter – Financial Intermediary

SANCTUARY TREASURY LTD

Location

• United Kingdom

Description

The borrower, Sanctuary Treasury Limited, requires funding to support the next four years of the Sanctuary capital investment programme, which comprises the construction of new social housing properties across the UK, together with the refurbishment/retrofitting of significant numbers of its existing properties.

Objectives

The Project will concern the financing of investments in the years 2012 – 2017 in the housing stock of Sanctuary, a not for profit Registered Provider of Social Housing. EIB funding of up to GBP 350m will concern retrofitting and new construction of social housing and associated infrastructure facilities throughout England and Scotland. The housing investments will satisfy the EIB’s eligibility criteria for urban renewal and sustainable cities and communities and energy efficiency. The Project will contribute to alleviating the current shortages in UK social housing supply by accelerating new construction to meet Government targets in the sector. Sanctuary is the largest group of Registered Providers in the UK managing a housing stock of some 94 000 units.

Sector(s)

• Urban development

Proposed EIB finance (Approximate amount)

EUR 415 million (GBP 350 million)

Total cost (Approximate amount)

EUR 830 million (GBP 701 million)

Environmental aspects

The social housing to be financed under the project will have to comply with high environmental standards and will significantly contribute to the improvement of the urban environment.

Procurement

The promoter falls under public procurement and will be required by the Bank to ensure that contracts for the implementation of the projects have been/shall be tendered in accordance with the relevant applicable EU procurement legislation as and where appropriate.

Status

Signed - 17/02/2014