Trent & Dove Housing raise £30m bond with THFC
Corporate News, News
£30m has been raised with The Housing Finance Corporation to help deliver Trent & Dove’s ambitious target of 1,400 new homes by 2022. The funds will enable key regeneration sites in and around Burton upon Trent to be developed and will provide suitable work for local small and medium sized builders.
During 2017, Trent & Dove a 6,000 home association will have built over 185 new homes, with the same number in the pipeline for 2018.
Ursula Bennion, Chief Executive at Trent & Dove Housing said “Making sure that we have enough affordable homes in our region is a priority for Trent & Dove. Raising the funds with THFC means that we can continue to drive our mission “To Transform Homes, Lives and Neighbourhoods for our customers.”
Piers Williamson, Chief Executive at THFC, said: “Housing associations are increasingly dependent upon capital markets, as banks shy away from long-term deals. This surge in housing association activity, as shown recently, can widen overall credit spreads. However, THFC has weathered these conditions to deliver a respectable pricing on a large bond.
This will help recognise the sector’s collective goal to deliver competitively priced long-term funding, support the borrowers’ business plans and the delivery of more affordable homes across the country.”