Brightlight’s NZ$37 million Te Puna Hapori Series II Bond to fund New Zealand Community Housing

Brightlight is pleased to announce the launch of Series II of the Te Puna Hapori (“wellspring of life for communities”) Bond. This $37 million bond issuance will be utilised to fund a diversified portfolio of six New Zealand community housing projects across Northland, South Auckland and Canterbury. 

This follows on from the highly successful, $13.7 million Series I - Te Puna Hapori Bond, issued earlier this year to fund two community housing projects in Manurewa, South Auckland (brightlightimpact.co.nz/newsroom). The Series I - Te Puna Hapori funding arrangement brought together Verdi Properties, Emerge Aotearoa, Salvation Army, Generate Kiwisaver, Guardian Trust, Minter Ellison Rudd Watts and Brightlight to provide new, clean and healthy homes for some of the most disadvantaged, yet aspirational, individuals and families in our community. 

Sam Richards, Managing Director Brightlight, “The Series II Te Puna Hapori Bond will positively impact the lives of around 330 individuals, families and retires currently on the New Zealand Housing Register awaiting the provision of social and affordable housing. Brightlight is honoured to play a part in enabling communities across New Zealand to unlock potential and transform lives, particularly as this Bond issue will see even greater collaboration between like-minded parties in geographical regions across the country with passion, social services capabilities and funding capacity.” 

Registered Community Housing Providers (“CHPs”) will provide the essential ‘wrap around’ services to the residents of these homes, and all the projects are supported by Income Related Rent Subsidy (“IRRS”) and Operating Supplement arrangements with the New Zealand Ministry of Housing and Urban Development (“MHUD”).