The £250m bond has a 26-year maturity and was priced at government gilts plus 0.83%, producing a coupon and yield of 5.342%.

There was significant demand for the transaction, with initial order books just under four times oversubscribed and more than 50 investors participating.

Proceeds will be used in accordance with its sustainable finance framework to fund the development of new housing that qualifies as ‘green buildings,’ having an EPC of A and B and affordable housing, homes developed for those who are unable to access the private housing markets.

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Jessica Friend, group corporate finance director at Platform Housing Group, said: “The strong performance of this issue is supported by our ongoing engagement with the debt investor community and reflects Platform’s focus on balancing investment with maintaining financial strength.

“The proceeds will be used to help fund the provision of more much needed quality, affordable and sustainable housing as we continue to alleviate the housing shortage across the region.”

Rosemary Farrar, CFO at Platform, added: “We are incredibly pleased that our debt investors recognise the huge attractiveness of the social housing sector and continue to support funding the excellent projects we invest in.

“These investments help to make significant social and environmental improvements to the communities in which we operate, as we push ahead with our ambitious development and decarbonisation strategies.”