Peabody agrees £310m refinancing with Santander

We have agreed a £310m refinancing package with Santander, strengthening our financial position and supporting our plans to invest in residents’ homes and local communities. It will also help us build much-needed new homes where we can.

Published: 18/12/2025

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The funding package includes a £125m revolving credit facility and a £185m term loan. Together, this simplified lending structure extends our liquidity and supports operational efficiencies. It will help us to press ahead with our regeneration programme while continuing to build high-quality, affordable homes and invest in residents’ homes so they’re safe, warm, well-maintained and sustainable.

Phil Day, our Chief Financial Officer, said: “I’m pleased that we’ve agreed this refinancing package with Santander. It simplifies the structure of our debt with the bank and will help us continue with our plans to invest in residents’ homes so they’re safe, warm and well-maintained, as well as doing what we can to build much-needed new homes.

“We’re always looking for opportunities to develop our links with financial institutions and look forward to building on our relationship with Santander.”

Jane Johnstone, Head of Social Housing at Santander Corporate and Commercial Banking, said: “We are delighted to be strengthening our relationship with Peabody as they continue to provide a solution to much-needed affordable housing in London and the Home Counties.

“Affordable housing is a key focus for the government and we at Santander are committed to playing our part in forwarding this agenda, having lent to housing associations for over 25 years. We look forward to continuing working with Peabody to amplify our shared commitment to positive long-term change.”