Hampshire housebuilder VIVID secures £75m facility from Nationwide

VIVID has agreed a new £75 million sustainability linked facility with Nationwide for the next 10 years.

The loan comes with key performance indicators to ensure the housebuilder continues to operate in a sustainable way.

Based in Portsmouth, VIVID is the sixth largest developer of new homes among housing associations in England, having built 1,390 properties between 2022 and 2023.

CFO Duncan Brown said: “We’re pleased to have secured this facility to continue to help us create homes and environments that have our customers at the heart.”

VIVID was advised by Centrus and worked with Trowers & Hamlins to secure the facility.

Jonathan Roberts, group treasurer at VIVID, added: “This loan is the perfect complement to our existing debt portfolio sitting between short-term RCF funding and longer-term bond debt.

“The facility is tightly priced and reinforces stretching ESG targets for us to deliver sustainable housing.

“We continue to be pleased with the support from the team at Centrus – the insights and expertise they bring in identifying funding partners capable of providing the flexibility, pricing and breadth of products we need to advance our growth and de-carbonisation journey.”