£75m bank funding secured for A2Dominion

The transaction is only the second closed with a housing association.

Background made of english pounds banknotes - pile of money

A2Dominion has agreed a £75m revolving credit facility with National Australia Bank.

The transaction is said to be the second closed by the bank, as part of their new UK social housing strategy.

The secured finding is said to enable the strengthening of the groups aim to continue to grow and proceed with new developments.

On the announcement, Michael Carr, National Australia Bank’s Director, Corporate Finance Europe, said: “The transaction enables us to commence a relationship with one of the leading housing associations in the London region and will help A2Dominion to continue its invaluable work in providing much needed homes.

“The NAB UK social housing team is committed to building relationships with housing associations to help reduce the housing shortage.

“Providing finance to this sector isn’t just about assets and financial transactions; it’s about projects that make a difference to people’s lives.”

Dean Tufts, A2Dominion’s Executive Director (Finance & Strategy), added: “This new funding from National Australia Bank supports the Group’s strategic plans to deliver more new homes in southern England.

“We will continue to look for similar opportunities to support our vision to improve people’s lives through high quality homes and services.”