• About
    • About Us
    • A History of THFC
    • The Board and Staff
    • Our Structure & Governance
    • News & Press
    • FAQs
  • For Borrowers
    • Why borrow from THFC?
    • Our Borrowers
    • ESG and Sustainable Investment
    • Retrofit Funding Scheme
  • For Investors
    • Overview
    • Sustainable Bond Framework
    • Key Information
    • Financial Statements
    • Investor Presentations
    • Credit Opinion
  • THFC Insights
  • Contact Us
  • About
    • About Us
    • A History of THFC
    • The Board and Staff
    • Our Structure & Governance
    • News & Press
    • FAQs
  • For Borrowers
    • Why borrow from THFC?
    • Our Borrowers
    • ESG and Sustainable Investment
    • Retrofit Funding Scheme
  • For Investors
    • Overview
    • Sustainable Bond Framework
    • Key Information
    • Financial Statements
    • Investor Presentations
    • Credit Opinion
  • THFC Insights
  • Contact Us

Boost for Welsh Investment from THFC Bond deal

2012-04-18

A blog image thumbnail.

Exactly three months after its last issuance, THFC priced a £131m tap of its 32 year THFC Funding (3) deal today. The transaction was lead managed by Royal Bank of Canada and Royal Bank of Scotland and was for thirteen underlying borrowers. The credit spread on the deal at 2.05% was inside the majority of recent own name issues, reflecting over 200% investor demand for the deal and delivered a yield of 5.37%.

The transaction was spread across a wide range of borrowers. Given recent interest in a ‘Welsh Bond’, the largest single group of participants were Welsh borrowers: five HAs in this deal added to the three in THFC ‘s last transaction. THFC has allocated a total of £68m in 30 year + funding to Welsh Borrowers in the last three months.

“We have a long track record of funding Welsh HAs stretching back to our first deal in 1990. They see us both as a consistent provider and as a speedy, cost effective route to market” Said Piers Williamson, THFC’s Chief Executive. “In a sector focussing on value for money, we can evidence repeated delivery of low cost deals – even for relatively small participations”. The deal also saw the second drawdown in a phased programme for the G15 member: Network Housing.

THFC’s latest deal brings overall HA public bond issuance to nearly £1.1Bn so far this year

Share:

Related Articles

A blog image thumbnail.

News

AHF Bucks bond spread widening trend with record low tap

THFC’s Government guaranteed bond vehicle bucked the recent trend of widening credit spreads for Housing Association own-name bonds with a.

2014-10-30

Learn More
A blog image thumbnail.

News

As Safe as Houses: Are housing associations as good an investment opportunity as utilities?

Key points: UK housing associations share most of the attractive investment characteristics of regulated utilities and are generally rated more.

2013-07-16

Learn More
  • About Us
  • For Borrowers
  • For Investors
  • FAQs
  • Contact
  • Terms and Conditions
  • Modern Slavery Policy
  • Privacy Policy
  • Cookie Policy
  • Sitemap
Designed By Red 13
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT