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Her Majesty Queen Elizabeth II 1926 - 2022

Portrait of Hugo Stephens
Areas of expertise: Housing


Hugo is one of the most experienced housing lawyers in the country, having advised housing associations, local authorities, banks and commercial organisations for over thirty years. He is an expert in governance (including charity law), finance and major projects. Hugo’s experience includes corporate, constitutional and governance matters for housing associations.

He also advises housing associations on their relationship and working arrangements with the Social Housing Regulator. Hugo’s finance work covers capital markets financings (public bond issues and private placements), bilateral and syndicated loan debt facilities, development funding, intragroup loans, structured finance and derivatives. He has led teams on a range of major projects including large scale voluntary transfers, Arms Length Management Organisations, PFI projects, group structures and mergers/demergers.

Hugo is recognised in Chambers and the Legal 500 as a leader in his field.

Recent work highlights

  • Together Housing Group £500 million refinancing of bank loans including restructuring and consolidating the existing facilities and harmonising their terms.
  • Gentoo Group demerger from its Scottish subsidiary West of Scotland Housing Association including dealing with the cross border regulatory issues.
  • Advising a corporate client on the formation and setting up of a housing association subsidiary including the necessary intragroup agreement.

Penningtons Manches Cooper LLP

Penningtons Manches Cooper LLP is a limited liability partnership registered in England and Wales with registered number OC311575 and is authorised and regulated by the Solicitors Regulation Authority under number 419867.

Penningtons Manches Cooper LLP