RHA & The Housing Finance Corporation Loan Drawdown
September 3, 2018
The Housing Finance Corporation (THFC) has priced £10m of its funding No.3 retained bonds for Rhondda Housing Association. This latest deal priced without a new issuance premium at an all-in rate of 3.266% based on a GILT of 1.748%, and a spread over GILT of 1.518%. As such, this pricing highlights an impressive and competitive deal for both RHA and THFC. This latest deal will help RHA grow our portfolio and develop even more homes for our tenants.
Rhondda’s Finance Director, Brian Pickett said:
“This funding is vital to continue Rhondda Housing’s ambitious development programme, building much-needed affordable housing for residents across the Rhondda Cynon Taf area, with sites in Aberdare, Pontypridd, Talbot Green, Llanharan and Pentre. The interest rate achieved means our tenants’ rent can go even further.”
Today’s deal is the second retained bonds sale THFC have undertaken this year for a Welsh housing association. Both of which have been the lowest all-in rates achieved over the course of six years and almost £1bn of issuance under THFC Funding No.3.
Piers Williamson, Chief Executive of THFC said:
“This latest deal highlights the effective nature of the THFC bond programme, which has yet again proved its capability of providing cost-effective finance to a diverse range of clientele across the UK. We look forward to continuing record of important bond finance to the affordable housing sector through both THFC and our new vehicle, bLEND Funding Plc.”
If you have any questions, or want to know more about how we are funded then please get in touch. Email: email@example.com or email 01443 424200
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