A2Dominion has issued £160m of unsecured funding off its EMTN programme to build the 7,600 homes in its development pipeline.
The group confirms two unsecured deals:
- £85m with a term of 10 years at a rate of 2.605% arranged by HSBC as Sole Bookrunner, with funding from a European investor
- £75m with a term of 11 years at a rate of 2.672% – Lloyds Bank Corporate Markets acted as Sole Bookrunner, with funding from a UK investor
The funding is pitched as strengthening the group’s financial position – increasing its total facilities to £2.2bn, with £1.6bn (net) drawn.
“We are delighted that we have secured this long-term funding of £160m, further demonstrating the strong financial strategy we have in place,” said Dean Tufts, A2Dominion’s executive director (finance & strategy).
“Our EMTN programme provides us with huge flexibility and allows us to respond quickly to market opportunities as they arise.”