Housing association London & Quadrant Housing Trust Ltd. completed a £500 million dual-tranche debt offering, comprising £250 million of 10-year and £250 million of 35-year bonds.
The 10-year bonds priced at Gilts plus 118 basis points and the 35-year bonds priced at Gilts plus 135 basis points, reflecting coupon payable rates of 2.625% and 3.125%, respectively.
L&Q will use the proceeds to refinance debt maturities.
Lloyds Bank, NatWest Markets and Santander were the joint book runners.
