A new £75 million Sustainability Linked Loan agreement between Danske Bank and Radius Housing Association will support the development of social and affordable homes across Northern Ireland over the next three years.

The funding will enable Radius Housing to invest in the development of up to 500 new homes, while also facilitating the retrofitting and refurbishment of a further 1,000 properties to enhance their energy efficiency.

The deal is one of the largest sustainability linked loans ever agreed by a Northern Ireland Housing Association.

Alan Thomson, Director of Finance at Radius Housing, said: "Radius Housing is committed to improving the sustainability of our business practices as part of our continual focus on improving the service we provide to our tenants. Agreeing this sustainability linked loan with Danske Bank is the next step on our journey and aligns with our strategy to ensure sustainability is embedded in all of our new and retrofitted homes, helping Radius become one of the most efficient and sustainable housing providers in the region."

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Meanwhile, Claire McKeown, Corporate Relationship Manager at Danske Bank, added: "We are delighted to provide this significant financial package to Radius Housing to support them in their mission to become one of the most sustainable and efficient housing providers in Northern Ireland.

"Thanks to close collaboration with Savills Financial Consultants and the legal teams in Shoosmiths, TLT, Anthony Collins and Wilson Nesbitt, we were able to facilitate a quick completion on the funding."  

The funding is aligned with Radius' sustainability ambitions, and incorporates targets focused on reducing greenhouse gas emissions intensity and improving property energy performance certificates (EPCs).