Sovereign is one of the largest housing associations in the country
Our strategy is to continue to grow, staying financially strong through good governance and performance management so we can invest more in the things that matter - building more homes and making better places.
To achieve our commercial and social goals, we need a diverse range of funding which is cost-effectively structured to provide the necessary investment funds and maintain liquidity. This includes an appropriate mix of bond and bank finance.
Our ratings and assessments
Following a self-referral to the Regulator of Social Housing and subsequent issue of a Regulatory notice in January 2022, our governance rating has been downgraded from G1 to G2. The Regulator has confirmed our existing V1 grade for viability. A rating of G2 is compliant and means that we meet the Regulator’s governance requirements but we need to improve some aspects of our governance arrangements to support continued compliance. Read our full response to the governance downgrade.
Regulator of Social Housing: G2 V1
Moody's: A2
Standard & Poor's: A+
- Moody's credit opinion December 2021
- Standard & Poor's rating report October 2021
- Press Release: Moody’s Ratings has affirmed Sovereign’s ‘A2’ rating
Value for Money Statement
We produce a Value for Money statement annually, setting out how effectively and efficiently we use income generated through our operations and via external funding, including examining areas where we’re looking to make improvements to our performance.
The statement uses standard performance indicators to allow comparisons to be drawn between us and the rest of the sector. There are varying sizes and operational complexities within housing providers, so, to provide a clearer comparison we’ve chosen five other Housing Associations of a similar size and nature to benchmark ourselves against. Providing value for money is at the centre of everything Sovereign does, and is integral to our Corporate Plan.
Read the Value for Money Statement.
Our Environment Social Governance (ESG) report
To find out more about how we’re meeting our strong commitment to building sustainable homes and places, our desire to maintain strong, ethical governance structures; and the ways that we’re creating a supportive environment for our diverse employees and customers read our new ESG report.
Sustainable Finance Framework
We've finalised our Sustainable Finance Framework, the categories identified in the framework represent tangible and effective investment areas which are core to Sovereign's sustainability strategy and are the focus of our service delivery.
Our Second Party Opinion report has been provided by Sustainalytics and their opinion is that Sovereign's Sustainable Finance Framework is both credible and impactful.
Treasury communications
Annual report and latest quarterly statement
View our accounts and reports from previous years over on our Corporate publications page.
You can also read more about our operational and financial performance in our Quarterly Update.
Annual Funders' Day
We hold a Funders' Day in Q3 every year and in addition we hold an Investor Roadshow where current and potential investors can meet our Executive Board and hear about our performance and future strategy.
Public debt issuances
Sovereign Housing Capital plc, a wholly owned subsidiary of the Registered Provider (RP) Sovereign Housing Association Ltd has issued Medium Term Notes (MTN) as follows:
Date issued | Maturity Date | Issued Amount | Coupon | Interest paid | Date |
2009 | 2039 | £175m | 5.705% | Semi-annual | 10 September / 10 March |
2012 | 2043 | £250m | 4.768% | Semi-annual | 1 June / 1 December |
2019 | 2048 | £375m | 2.375% | Semi-annual | 4 May / 4 November |
Downloads
- Constitutional Documents of the Issuer
- Constitutional Documents of the Borrower
- Valuation Report
- Bond Trust Deed
- Security Trust Deed (2006)
- Accession Memorandum to the Security Trust Deed
Quarterly performance reports
- Quarterly performance update Q4 2021/22
- Quarterly performance update Q3 2021/22
- Quarterly performance update Q2 2021/22
- Quarterly performance update Q1 2021/22
- Quarterly performance update Q4 2020/21
- Quarterly performance update Q3 2020/21
- Quarterly performance update Q2 2020/21
- Quarterly performance update Q1 2020/21
- Quarterly performance update Q4 2019/20
- Quarterly performance update Q3 2019/20
- Quarterly performance update Q2 2019/20
- Quarterly performance update Q1 2019/20