Riverside has issued a £250m bond after an oversubscribed investor round saw peak demand of almost £1billion in offers. 

The 25-year bond was issued on 11th September 2025 and has been priced at 125 basis points over gilts, with a coupon of 6.625%. 

It follows a strong performance in Riverside’s 2025 financial statements, which reported an operating surplus of £108 million, improving the operating margin from 10.7% to 15.7%, and a 6% rise in turnover to £686 million – following two years of deficit. 

We will use the new funds as capital investment  in our existing homes and are on course to complete our cladding remediation programme by 2028 and reach EPC C for homes by 2030. 

Riverside Group Chief Executive, Paul Dolan said:

“We remain absolutely committed to our core purpose as a social landlord to ensure every single Riverside customer has a safe, warm and decent home and this investment will help us achieve this. 

“We’re extremely pleased we achieved strong investor appetite, reflected in the pricing we achieved considering the challenges within the operating environment. With almost £1billion of offers on the table at the peak and finishing with an orderbook of more than 2.5 times, it’s clear that investors share in our purpose and are placing their trust in us.

“Our 2025 financial results and this investment is a clear demonstration we have turned a corner and are starting to realise the long-term benefits of our merger with One Housing. We’re committed to continuing to improve our financial capacity in a sustainable and sensible way.” 

The deal was supported by Barclays and Lloyds as joint book runners. Devonshires provided Riverside’s legal support with Addleshaw Goddard supporting the joint bookrunners, bond trustee and security trustee and JLL valuing the security.  Agency services will be provided by Deutsche Bank, with Natwest providing Riverside with some additional interest rate hedging support on this transaction.