Trowers & Hamlins advised Sentinel Housing Association Limited on its successful raising of £75,000,000 under a private placement of notes with UK and US investors.

Sentinel instructed Trowers & Hamlins to act as its lead adviser on its recent successful placement of £75,000,000 of secured notes - Sentinel's first foray into capital markets funding. Sentinel will use the funds to refinance some of its existing debt and to finance its ongoing development programme in its core areas of Hampshire, Western Surrey and Western Berkshire. Morrison Foerster advised Sentinel on US aspects of the transactions, which was arranged by Barclays Bank plc.

Trowers & Hamlins were also instructed to act for Sentinel in charging over half the properties (by value) required to secure the placement to its existing security trustee to secure the placement. Trowers & Hamlins took the lead on preparing the note purchase agreement, the primary document which constitutes the notes and contains their terms and conditions (including financial terms) and also input into the private placement memorandum prepared by Barclays, which is the marketing document used to attract potential investors.

Lionel Haynes' Sentinel's finance director, commented that the Trowers & Hamlins team had done "a wonderful job".

For more information please contact Sarah Gooden (Partner, Banking and Finance) Eleanor James (Associate, Banking and Finance) or Melanie Comer (Managing Associate, Property Charging).

http://www.trowers.com/news/releases/trowers-hamlins-acts-for-sentinel-…