VIVID has continued using its ESG (environmental, social and governance) credentials to attract investment, this time announcing a new £100m Sustainability Linked Facility from ABN AMRO. Access to this funding and facility supports VIVID’s desire and objective to build and develop more energy efficient, affordable homes.  The need for customers to be able to cost effectively warm their homes is a necessity and a very apparent requirement.  As a business being able to impact the energy efficiency of new and existing homes and reduce the carbon footprint is a driving force for success and change.

The facility is unsecured and has metrics linked to VIVID’s environmental, social and governance (ESG) work, helping incentivise a positive impact for VIVID’s customers and communities.  The new facility was announced 3 months after VIVID secured the sector’s first green loan.  

Duncan Brown, Chief Finance Officer, VIVID said: “We’re delighted to work with a relatively new entrant to UK social housing and we look forward to a long and productive relationship”.

ABN AMRO is aiming to accelerate the sector’s sustainability work. As an early advocate and adopter of sustainable finance, ABN AMRO had a big impact on the Dutch social housing sector and is now looking to expand and grow its influence in the UK.

Richard Smith, Director, UK Corporate Client Coverage said “We are excited to be starting this new relationship with VIVID and to be further extending our support to the UK Social Housing sector. VIVID’s strong credit and regulatory ratings, coupled with their sustainability ambitions make them an ideal client for ABN as we look to expand in the UK and deliver on our own sustainability goals.”

VIVID was advised by Centrus, Paul Stevens said “Centrus is delighted to have advised Vivid through the process of identifying the right banking partner for this facility and in negotiating very supportive terms which fully align with the funding objectives. These terms reflect both the very strong credit risk profile of Vivid but also a collaborative and flexible approach by ABN AMRO.”