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RNS Update

RNS Number: 070720
PenArian Housing Finance PLC
7 July 2020

Update on ClwydAlyn Group and the involvement with Polish Housing:

The Penrhos Polish Home, which recently celebrated its 70th anniversary, has had several years of financial uncertainty leading to an uncertain future. Polish Housing are a small housing association with a 43 bed nursing home and 96 sheltered units. They are all located on one site in Gwynedd. Recently it was announced Polish will be closing the care home. ClwydAlyn were approached by Welsh Government and Gwynedd Council to consider a merger and on the 6th July ClwydAlyn's Board approved this.


RNS Number: 0142O
PenArian Housing Finance PLC
27 September 2019

ClwydAlyn receives top rating from Regulator:

ClwydAlyn has again received the top rating from Welsh Government in its Housing Regulation, Regulatory Judgement.

The full report shows ClwydAlyn is Standard for both Governance and Services as well as Financial Viability.


RNS Number: 0127M
PenArian Housing Finance PLC
11 September 2019

Financial Accounts Year End Mar 2019

Pennaf Housing Group (now ClwydAlyn Housing Group) Financial Statements are available through our website. The result is inline with our budget for the year.

ClwydAlyn have also released our activities report for 2018/19 and this is available through our website aswell.


RNS Number: 5798B
PenArian Housing Finance PLC
07 June 2019

ClwydAlyn Housing Ltd: Unaudited results for the group

Click the 'unaudited results for the group' link on the Investors page for the pdf document


RNS Number: 4404ZM
PenArian Housing Finance PLC
17 May 2019

ClwydAlyn Housing Ltd: Non-deal Roadshow & S&P rating

ClwydAlyn Housing (formerly Pennaf Housing Group) has retained it’s rating from S&P at A stable. In S&P’s view Clwyd Alyn's lean cost base and its decision to focus on predictable social housing rental revenue should support improving underlying financial performance after a drop in margins in 2019’.

At the same time, S&P affirmed the ‘'A' issue rating on the £250 million bond issued by PenArian Housing Finance PLC’.

ClwydAlyn are looking to invite investors and potential future investors to one of our investor day meetings on the 11th and 12th of June. If you are interested please contact us by email on

Ahead of these investor days a Trading Statement will be issued to show the Groups performance for 2018/19 financial year.


RNS Number : 9376M
PenArian Housing Finance PLC
12 January 2019

Pennaf Ltd: sees continued improvement in performance in first 6 months of 2018/19

Pennaf Housing Group has performed well over the six months to 30 September 2018, with a steady improvement in operational performance, whist delivering growth in units and maintaining a good level of liquidity.

The six-month performance report is available here


RNS Number : 1844E
PenArian Housing Finance PLC
16 October 2018

Pennaf Ltd: Pennaf receives top rating from Regulatory Judgement.

The full report shows Pennaf is Standard for both Governance and Services as well as Financial Viability.


RNS Number : 7279B
PenArian Housing Finance PLC
24 September 2018

Pennaf Ltd: Annual Financial Statements - 24 Sep 2018 13:28

Financial statements for year ended 31st March 2018. The Group's Operating Surpluses continue to improve. The full financial statements are available through the links provided on the Investors page.


RNS Number : 8988X
PenArian Housing Finance PLC
15 August 2018

Pennaf Ltd: Executive Restructure.

In order to better achieve the Group's aspirations and goals, the Executive Team is being restructured to align closer with key business priorities. As a result, the Deputy Chief Executive post and the Finance Director post are being combined into a newly created Executive Director of Resources. The new post will have responsibility for Finance, IT, Governance, Performance and Health and Safety co-ordination. This post will be advertised shortly, with a final appointment expected in early October. A new fixed term post of Executive Director of Organisational Change has been created and the current Deputy Chief Executive will undertake this role. The Finance Director will remain till the end of the year to facilitate handover and continuity.


RNS Number : 6443N
PenArian Housing Finance PLC
10 May 2018

S&P Rating of A Stable.

Pennaf Housing Group's rating from S&P has been affirmed at A stable. In S&P's view Pennaf still enjoys a stable demand for its services. S&P also felt there has been a material Improvement in Pennaf's cash position following placement of the £250 million bond (£90million retained) in June 2017.

At the same time S&P affirmed their 'A' issue rating on the £250 million bond issued by PenArian Housing Finance PLC.


RNS Number : 4695E
PenArian Housing Finance PLC
09 February 2018

PenArian Housing Finance Plc: Appointment of Chair of the Board

With effect from 6 February 2018, Mr Peter Lewis was appointed as a director and chair of the PenArian Housing Finance Plc board, replacing Mr Glyn Jones who has resigned from the position. 


RNS Number : 6557D
PenArian Housing Finance PLC
01 February 2018

Pennaf Ltd: Appointment of External Auditors

Pennaf Ltd and PenArian Housing Finance PLC are pleased to be able to inform you that following a tender process the group have appointed new external auditors.

Beever and Struthers are the successful tenderers, their contract will commence on the 1st April 2018 and will audit the groups 2017-18 financial statements.


RNS Number : 8437C
PenArian Housing Finance PLC
24 January 2018

Pennaf Ltd: New Chief Executive

Pennaf Ltd and PenArian Housing Finance PLC are pleased to be able to inform you that Clare Budden has been appointed to take over as the new Chief Executive of the Pennaf Group as from 16 April 2018.

Clare is currently the Chief Officer Community and Enterprise at Flintshire County Council, and has previously worked in housing associations as Managing Director at CDS, Greater Hornsby and New Generation.

Financial Accounts Year End Mar 2019

Financial Accounts Year End Mar 2018

KPI Report

Development Report

Regulatory Judgment 2019

The Board & Management Team

Responsibility for the management of ClwydAlyn rests with the Board of Management who have a wealth of skills and experience gained over many years, and offer their services and expertise on a voluntary basis.

Latest News

Up to date information from across the group, including project activities within our communities


ClwydAlyn operates across 7 Local authorities in North Wales and owns and manages over 5,700 properties within that region. We are committed to providing high quality new homes through our main Registered Social Landlord (RSL) ClwydAlyn Housing Limited.

See our latest Annual Activities Report

You can find more information via each of the company websites:

Financial Information

Potential Financial Impact of Coronavirus.

ClwydAlyn enters this uncertain period in a strong financial position. It has good cash availability which includes instant access and investments due back in July.

It has recently renegotiated its Revolving Credit Facility to extend it from £25m to £35m and from 3 years to 5 years while reducing the margin payable. In addition, it has also recently completed a deferred sale of £25m of its retained bond, with £15m due in February 2021 and £10m in February 2022 helping to protect its medium-term position. It still has £65m of retained bonds.

The company has had to pause its new-build programme, which will conserve cash in the business. While this will delay the handover dates and rental income, the company’s business plan already contained prudent assumptions about the timing of these schemes.

ClwydAlyn does not rely on market sales, and other than disposing of a few surplus assets and a relatively small number of staircasing sales, is not exposed to the housing sales market.

Approximately 50% of ClwydAlyn’s income is derived from government sources – housing benefit, supporting people grant, council-funded care home placements and other contracts, which are low risk. A further 15% is paid by residents of care and extra care schemes which generally derive from pensions and savings and so are not at risk from the contraction in the employment market.

This leaves 35% paid by tenants directly to the company. We are offering tenants support and advice to ensure they are able to manage their rents and access benefits and other financial support.

We have furloughed approximately 100 staff and are freezing all recruitment. Our head office has closed, and all corporate staff now work from home and are able to work effectively.

The situation is monitored closely with regular operational updates and weekly budget and cashflow reporting to board and the executive.


Investor Update Presentation

ClwydAlyn's strong operational performance and efficiency has resulted in robust financial health, despite economically challenging times. Over the past three years the group has experienced strong growth. The Group’s intention is to continue to grow and we intend to deliver 1,500 new homes by March 2022


Pre-Publication Notice: ClwydAlyn Housing Ltd - S&P Global Ratings

Our financial strength and stability has been supported by the rating issued by Standard and Poor’s, with a rating currently of A (Stable outlook). Standard and Poor’s view is that ClwydAlyn's strengths include its Management Teams experience, it's development strategy that is aligned to its capabilities and strong liquidity position. They felt that ClwydAlyn's predictalable revenue base will support the entity through COVID-19 related headwinds.

Bond Issue

ClwydAlyn was the first housing association in Wales to secure £160 million publicly listed bonds through PenArian Finance Ltd from the capital markets, with a further £90 million retained for future investment. These funds have been used to reduce financing costs by settling bank debts and to build additional housing in line with ClwydAlyn's aims.

Operational Information

ClwydAlyn is regulated by the Welsh Government and the latest Regulatory Judgement Report, which was issued in September 2019, gave ClwydAlyn the top rating of ‘Standard’ for both Governance and Services, and Financial Viability.


The information provided may contain certain forward looking statements about ClwydAlyn and the Group. These have been prepared by ClwydAlyn and are unaudited. Although ClwydAlyn believe that these statements are based upon reasonable assumptions on the relevant publication date, any such statements should be treated with caution as future outcomes may be influenced by unforeseen factors that could cause forecasts and actual results to be materially different. Additionally, the information presented should not be construed as solicitation/recommendation to invest in ClwydAlyn's bonds

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