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17 Apr 2026

Bevan Brittan and Centrus advise Magna Homes on £150m financing to support delivery of around 1,500 new homes by 2030

"Bevan Brittan and Centrus advised Magna Housing on a £150m refinancing comprising £80m of revolving credit facilities and £70m of term debt provided by Nationwide, Barclays and AIB. The financing supports Magna’s five‑year development programme and the delivery of around 1,500 new homes by 2030."

Bevan Brittan acted as legal counsel and Centrus acted as treasury advisers and debt arrangers to Magna Housing on the completion of a £150m new financing. The transaction comprised £80 million of revolving credit facilities and £70 million of term debt provided by Nationwide, Barclays and AIB. The refinancing was negotiated on a highly competitive and flexible basis to support Magna’s development programme over the next five years and to assist delivery of around 1,500 new homes by 2030. The outcome maintains a weighted average life of bank debt of six years and secures a 19 basis point reduction in Magna’s bank portfolio weighted average margin. The package preserves favourable covenant definitions, retains embedded hedging optionality and combines a blended RCF and term debt structure with a 24‑month availability window to provide drawing flexibility and to reduce cost of carry amid changeable development spending. Bevan Brittan represented Magna Housing with a team composed by: Louise Leaver (Head of the Housing Finance team), Anna Clark, Louise Mookerjee, Weronika Ziecina and Jessica Church. The firm advised on the restatement of one facility and the negotiation of two new facilities, including related security documentation and accession to existing security trust arrangements, and provided comprehensive reporting and concurrent negotiation of loan documentation for each lender. Centrus represented Magna Housing with a team composed by: Tom Miller, Director. Centrus acted as treasury advisers and debt arrangers, working closely with Bevan Brittan and the Magna team to secure a cohesive approach and timely completion.
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