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London & Quadrant Housing closes £500M debt offering

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.