Lead advisers to Scottish Widows on the provision of a £80 million sustainability loan facility to Link Group Limited

We acted as lead advisers to Scottish Widows Limited as lender, Bank of Scotland as agent and The Law Debenture Trust Corporation p.l.c. as security trustee in respect of the provision of a £80 million sustainability-linked loan ("SLL") facility to Link Group Limited.

This ground-breaking transaction was the first SLL facility provided by Scottish Widows to a UK housing association, as well as its debut SLL in any sector in Scotland.

Key highlights 

• The first SLL facility provided by Scottish Widows to a UK housing association as well as its debut SLL in any sector in Scotland.
• Underpins Link Group's commitment for next five years to meet its housing development programme, which is forecast to deliver 3,000 new affordable homes.
• A highly specialised and new area of law.

Outcome

The provision of a loan facility that aligns Link Group’s sustainability objectives to Scottish Widows' ambitious sustainable investment targets and enables Scottish Widows to support Link in the delivery of their affordable homes development programme, whilst helping facilitate the journey towards a more sustainable future.