Midlands affordable home group gets £370m for new developments
East Midlands Housing (Emh group), a provider of affordable homes in the East Midlands, has refinanced its debt.
The organisation has secured £270m in banking facilities, including £90m in new financing, and raised an additional £100m by selling bonds.
Emh Group, headquartered in Leicestershire, plans to utilise the funds from this refinancing and bond sale to support its business plan.
This plan includes developing new housing sites and making enhancements to their existing properties.
Emh Group, as a strategic partner of Homes England, manages roughly 22,000 residences throughout the East Midlands region.
The company says it aims to build approximately 500 homes each year, catering to both social rent and shared ownership.