AHF price £49.5m of retained bonds for five housing associations
The Government guaranteed aggregator, Affordable Housing Finance (AHF), has sold the remainder of its outstanding retained bonds in two transactions.
The first of these priced Friday 1st December for 4 borrowers at G+29.5bps, with a total nominal of £39.5m, achieving an all-in rate of 2.146%.
These retained bonds were priced for two members of the Radian Group: The Swaythling Housing Society (£21m) and Drum Housing Association (£5.5m), while the remainder has been priced for West Kent Housing Association (£6m) and Golding Homes(£7m).
The second transaction was priced last Monday, for Yorkshire Housing with a nominal of £10m, achieving an all-in rate of 2.124%.
These retained bond pricings, which follow a string of housing association (HA) own name bond issuances, provide further evidence of the Government backed aggregator’s ability to on-lend cost-effective long-term finance.
Piers Williamson, AHF’s Chief Executive said:
“These latest retained bond pricings show how successful AHF has been in generating investor interest, despite the Government backed programme coming to the end of its underwriting period. AHF is pleased that all participating HAs will be able to utilise its competitive financing, which will help them deliver much needed affordable homes.”
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