bLEND secures £20m for Acis Group at competitive rate
bLEND secures £20m for Acis Group at competitive rates
The Housing Finance Corporation (THFC), the UK’s leading affordable housing aggregator, is pleased to have secured a 20-year, £20m bond financing transaction for Acis Group through bLEND Funding Plc.
This deal marks Acis Group’s first financing arrangement via bLEND, a wholly owned subsidiary of THFC. Acis Group is a charity that manages around 7,000 affordable homes in Lincolnshire, South Yorkshire & Humberside, Nottinghamshire, and Derbyshire, including over 1,600 student homes in Sheffield and Nottingham.
bLEND was able to achieve competitive pricing by making the most of investors who had uninvested funds that needed to be put to use before the calendar year end.
Acis joined the bLEND pool in summer 2024, with a view to raising financing to support its development and asset management plans.
Will Stevenson, Group Treasurer at bLEND and THFC, said: “In spite of the continued economic pressures and the increases we’ve seen in global bond yields, this latest transaction for Acis shows there are deals to be done at competitive rates for HAs.
“bLEND and THFC are trusted leaders in helping HAs to access the capital markets, and we’ll always work in the best interests of our clients and the social housing sector – which remains an attractive place for investors to put long-term money.”
Priya Nair, Chief Executive of bLEND and THFC, said: “Raising the right debt financing at the right time is part of our core business here at bLEND and THFC, and we were pleased to secure the finance Acis required at a time when investors were keen to place their funds.
“With bond yields where they are right now, being fleet of foot and able to respond to investor appetite really can make a difference to cost of funds, which ultimately means more financial capacity and greater social impact during a very important period for our borrowers.”
Adrian Chamberlain, Finance Director at Acis, said: “We were delighted to be working with bLEND for the first time to secure this funding. The flexibility provided by the bLEND product was important to us in meeting our current funding need. We are committed to making a meaningful difference in the lives of individuals and families across our communities and this new loan will help us to achieve this.
Notes to editors:
About THFC
THFC has been the UK’s leading affordable housing aggregator for more than three decades, providing innovative funding solutions for over 150 housing associations across all four nations of the UK. THFC has amassed a near £8bn loan book to date and continues to expand its range of financial products to serve the needs of the social housing sector. THFC has made significant contributions toward solving the UK’s affordable housing crisis, having funded 32,000+ homes under Affordable Housing Finance Plc, which oversaw the government’s initial Affordable Housing Guarantee Scheme. The aggregator launched bLEND Funding in 2018 and unveiled THFC Sustainable Finance (TSF), a sustainable finance vehicle, in 2023.
About Acis Group
Acis Group is a housing charity that helps people and communities in Lincolnshire, Nottinghamshire, Derbyshire, and South Yorkshire. It has more than 7,000 homes that people can rent, buy, or part-own. In 2022, Acis welcomed Clip to the group, which helps people find jobs, learn new skills, and get qualifications in areas of Lincolnshire. They help more than 2,000 people with skills, qualifications and wellbeing support every year. Riverside Training is also part of the group and offer training, qualifications, and support to help people do well in their jobs and careers. Acis also has over 1,600 homes for students in cities like Sheffield and Nottingham. These apartments are in The Trigon and Raleigh Park, which are safe, modern, and perfect for students living. We believe in doing more than just providing homes.
For more information, please contact:
Will Stevenson, group treasurer at bLEND and THFC: william.stevenson@thfcorp.com
Annalyce Whittaker, senior account manager at Social: annalyce.whittaker@social.co.uk