Karbon Homes bags £150m finance to strengthen future strategies
Karbon Homes has issued £150m in new bonds to support the delivery of its ‘Strong Foundations Strategy’.
The strategy outlines key aims including plans to expand its build programme to develop at least 500 high quality new homes every year.
The organisation provides ways for customers to access homes, from homes to buy and shared ownership, to affordable housing, social housing and supported and specialised housing.
Karbon also remains committed to continued investment in its almost 30,000 existing homes across the North East and Yorkshire, and has committed £180m in planned maintenance over the next ten years to ensure they are fit for the future.
Its main business driver is to deliver excellent customer service and engaging and listening to customers to shape its products and services.
Paul Fiddaman, chief executive of Karbon Homes, said: “We are extremely proud of our five year strategy which is driven by the needs of our customers.
“As a profit for purpose business, we invest any surplus into building, improving and maintaining homes, and providing sustainable outcomes for customers and places.
“Combining a sound business head, with a strong social heart, this bond ensures we have the financial strength to deliver our strategy, so we can build strong foundations for more people.”
Following recent roadshows to investors, Karbon raised £150m of new bonds, with a further £100m retained for later sale.
Investors were said to be attracted to Karbon’s brand, its leadership, strategy and approach to risk management.
Sarah Glendinning, regional director of the CBI, added: “It is really encouraging to see such ambitious aims from one of our region’s biggest businesses.
“Karbon’s commitment to address the housing crisis through continued investment in existing homes and the delivery of 500 new homes a year is impressive. With these strong foundations, Karbon has a bright future ahead.”