Social housing: finance

Julian is a partner and head of the banking and capital markets team. The team is recognised in Chambers 2015 as 'of the highest standards' when it comes to acting for borrowers. He advises on all aspects of finance made available to registered providers, including bond issues (wholesale and retail, secured and unsecured), private placements, syndicated and bilateral loans, the funding of LSVTs, PFI funding, intra-group funding and interest rate derivatives and related security. He also advises on security trustee arrangements in connection with the group funding arrangements of registered providers. Notable transactions include acting for numerous registered providers on their own name bond issues, including Circle Anglia, Genesis, London and Quadrant, Notting Hill, Moat, Amicus Horizon, Hyde, Saffron Housing Trust, Clarion, Great Places, Radian, Together Housing Group, WM Housing Group, Southern Housing, BPHA, Thrive Homes, Yorkshire Housing and Swan, acting for A2Dominion Group on its unsecured retail bond issues and wholesale bond issues; acting for Catalyst Housing Group, Bromford, Newlon, Suffolk Housing Society, Regenda, Waterloo, Aldwyck and Orbit Group on their private placements; advising numerous registered providers on funding for lending loans and borrowing from THFC and Affordable Housing Finance plc, acting for numerous registered providers in connection with their group refinancings. A natural sciences graduate from Durham University, Julian completed his legal training at Simmons and Simmons. From there he went on to a role in the general banking groups at Allen & Overy and then to Eversheds’ Cambridge office where he acted for both banks and borrowers on various acquisitions, MBOs and property financing transactions.

Andrew is a Partner and  a member of our banking and governance team. His team acts for over 200 social housing providers and local authorities in England, Wales, Ireland and Northern Ireland and as panel solicitors for the Homes and Communities Agency including For Profit providers. Andrew and his the team act for funders and over 180 housing associations based over England, Wales and Scotland on their general fundraising and project specific finance (such as PFI and joint ventures). Andrew has a particular specialism in governance and regulation of for social housing, and M&A within the social housing sector and joint ventures. Andrew is a regular contributor in relation to policy issues affecting the social housing sector.  He is a regular speaker on housing finance, group structures and housing strategies. Andrew is a trustee of HACT, the Theatre Royal Stratford, Swan Mountain Trust and non-executive director of Seymour Street Homes, a subsidiary of British Land PLC and a member of the finance committee of the Theatre Royal Stratford.

Chris advises funders and borrowers on security related transactions in the social and affordable housing sector such as syndicated and bilateral loan financings, private placements, bond issues, group restructurings and large-scale voluntary transfers. Chris is also recognised for his work in the PV/renewables industry, in which he has helped the Council of Mortgage Lenders formulate its guidance.

Sharon is a partner and heads up the securitisation team of over 35 securitisation specialists. Sharon joined Devonshires in 1994 as a trainee legal executive and studied part-time, qualifying as a solicitor in October 1998 and winning the Law Society Prize for Outstanding Performance, becoming a partner in 2006. Sharon’s team acts for over 90 registered providers. Her experience includes the securitisation of residential street properties and developments under loan facilities of amounts varying from £1m to £450m on behalf of registered providers. Sharon’s notable transactions include acting for Circle in their merger with Affinity Sutton in 2016 to create Clarion, acting for Circle, Orbit, Great Places, Regenda, Wythenshawe and Your Housing on their large scale refinancing exercises, acting for Swan Housing and Riverside Housing in the switch from their syndicated facilities to bilateral facilities and acting for AmicusHorizon (now Optivo), BPHA, Bromford Housing Group, Circle (now Clarion), Great Places Housing Group, Hyde Group, London & Quadrant Housing Trust, Midland Heart, Moat Homes, Notting Hill Housing Trust, Radian Housing Group, Raglan Housing, Riverside Housing, Swan Housing and Yorkshire Housing (to name just a few) in the property charging on their bond issues/private placements. Clients state that ‘Sharon Kirkham’s commitment, understanding and support in securitisation work is second to none’. Sharon is seeking to achieve ‘stress-free securitisation’ in the sector by giving Security Training Seminars to RPs throughout the whole of England and Wales.

Louise is a specialist housing finance lawyer and is recognised for providing commercial and pragmatic advice to clients. She has been acting for borrowers and lenders for over 20 years, and represents a broad range of clients including corporate borrowers, registered providers, charitable entities, property developers, banks and institutional investors. She has experience advising on all types of loan agreements, security documentation, intercreditor and security trust arrangements, swap transactions and capital market issues. Louise specialises in supporting and advising clients in the social housing sector to raise funds, whether through short-term revolving credit facilities or longer-term private placements and bond issuance. She also advises on development finance, acquisition finance, off-balance sheet delivery models, joint venture arrangements and restructurings. She used her experience acting for borrowers and lenders to evolve and document new funding structures. Recent Experience o Advising a leading housing association on the first unsecured revolving credit facility in the social housing sector. o Lead lawyer advising a large London housing association on their debut US private placement with a novel mix of secured and unsecured tranches. o Acting for institutional investors in relation to over £1billion of private placements. o Supporting a large housing association through a £250m bond issuance, merger and subsequent group restructure and related refinancing. o Lead lawyer advising a large G15 housing association on structuring their PRS portfolio and accessing funding through the PRS Government Guarantee scheme. o Advising a G15 housing association on their role in a large regeneration project structured through a contractual joint venture with a nationwide developer.

Partner advising in relation to structured finance; specialising in social housing finance, real estate finance, debt capital markets, project finance and derivatives

Partner

Partner

Senior Associate

Partner

Gary heads up the Leeds banking team and is a member of the firm’s management committee. He also co-heads the Leeds office with Chris Drabble. He has extensive experience of advising on a range of financial instruments and arrangements, including syndicated and bilateral loan facilities; facility restructurings; mergers; group collapses; intra-group funding; interest rate derivatives; private shelf facilities, and high-value private bond issues. He acts for borrowers, lenders and trustees on real-estate finance related arrangements, with a renowned specialism in social housing finance.