Clarion switches to Sonia for sustainability loan

Houses_AdobeStock_575x375_21May20
By Mike Turner
19 Apr 2021

Clarion Housing, the UK housing association, has signed a £100m sustainability-linked loan, with the borrower using Sonia as the pricing benchmark for the first time.

Clarion’s deal was arranged by NatWest, months after the bank brought the first the first social housing bond from a UK financial issuer in February, printing €1bn to on-lend to housing associations.

The deal has two key performance indicators linked to the margin.

The first is how much ...

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