Law firm advises social landlord on “first of its kind” £300m sustainability-linked bond issue

Law firm Devonshires has acted for leading housing association L&Q on the issue of £300m Sustainability-Linked Bonds (SLBs) due 2032.

Under the new SLB, L&Q has made commitments to reduce carbon emissions and to improve energy efficiency in residential homes.

The funds raised will be invested in the development of 8,000 new homes in the UK by 31 March 2024, half of which will be affordable.

The targets set by L&Q are part of a wider strategic aim to achieve net zero carbon by 2050.

The housing association provides homes to approximately 250,000 people, primarily across London and the South East of England.