Macquarie Group Ltd makes £100 million bet on UK social housing with Places for People deal
Macquarie Group's asset management arm said on Thursday it had provided £100 million of debt financing to Places for People, one of Britain's biggest social housing providers. The eight-year unsecured private placement — debt sold to a limited pool of investors rather than the public market, with principal due at maturity — will be used to refinance existing borrowings and extend debt maturities, Macquarie said. Why this matters now is fairly direct. Britain's social housing providers are under heavier financial strain, and the Regulator of Social Housing said in January the sector expected to raise £49 billion of new facilities over the five years to March 2030, including refinancing, while aggregate interest cover had slipped to 106% as repair and