Sustainability-linked loan for Hill

The Hill Group has completed the full refinancing of its group portfolio with a sustainability-linked loan (SLL) valued at £220 million maturing in 2026. The refinance will support the group’s five-year plan to double the size of the business to £1.2 billion by 2025.

Using the SLL, Hill will benefit from a lower interest cost as its green credentials increase in the future. This is based on four sustainability linked criteria – biodiversity net gain, reducing operational carbon, reducing scope 1 and 2 carbon and the company’s overall sustainability rating as measured by the NextGeneration scoring system.

The loan is the group’s main source of debt funding for the delivery of its private development pipeline and will fund Hill’s long term development projects. It was last renewed in 2017 for £200 million and has now been increased to £220 million, with four banks - Lloyds, NatWest, HSBC and Santander - each committing to a £55 million loan.

Tony Parker, finance director at Hill, said: “Our sustainability-linked loan refinancing is an important step in our overarching group vision to become a leading sustainable housebuilder in the UK. We are extremely pleased with the confidence that these leading banks have …