Private credit

Drawing on LGIM’s position as one of the UK’s largest and most experienced property investors, we provide expertise in senior loans secured against a broad range of property sectors.

We provide debt financing across four key infrastructure sectors: energy, transportation, digital and social.

For private corporate and public sector entities seeking to borrow outside of the public markets, we specialise in providing bespoke debt financing across a variety of sectors, structures and geographies.

Our transactions in alternative debt cover a broad spectrum – from trade and asset-backed finance – through to government supported opportunities, derivatives strategies and private asset-backed securities (ABS).

We invested US$250m in the largest ever so-called debt-for-nature swap. The transaction, which is insured by an AA rated US development bank allows Ecuador to restructure its debt at much lower repayment rates, on condition the country puts some of the money saved towards environmental conservation.

Ecuador will spend these savings on marine conservation in the Galapagos Islands, home to an estimated 3,000 marine species.

Source: Ecuador: LGIM as at May 2023.

Landsvirkjun is Iceland’s national power company and its largest renewable energy provider. Our initial green US private placement was followed by two additional investments, including a Sustainable Development Goal (SDG)-linked transaction, as set out by the UN.

As the coupon charged to the borrower fluctuates with how the borrower performs relative to specific SDG targets, this transaction helps incentivise Landsvirkjun to reach its target of becoming carbon neutral by 2025.

Iceland: LGIM as at August 2020 (latest investment).

We provided a £400m loan to Unite, the largest operator of UK PBSA. The loan was used to refinance a public bond for its flagship Unite UK Student Accommodation Fund (USAF).

USAF, which has 28,000 beds under management, is present in all major university towns and cities, including Oxford, Durham, London, Bristol, and Birmingham.   

UK Purpose Built Student Accommodation: LGIM as at April 2024.

This deal – to finance the operation of six new schools in Prince George’s County, Maryland – is believed to be one of the first public-private partnerships involving a public school system in the US.

It will provide much needed new education facilities to a rapidly growing county in the US.

Maryland schools:  LGIM as at December 2020.