Pension Insurance Corporation (PIC) has completed a second debt investment, totalling £30m ($41m), in County Durham-based housing association Livin Housing.
The £30m funding will be split into three tranches with drawdowns in 2021, 2022, and 2023, and maturities split between 2054 and 2059. The maturity profile has been tailored to match PIC’s pension liabilities in years where it is difficult to source cashflows in the public bond markets.