Posted 14.09.14
A2D Funding II plc has raised £150 million via its recent issuance of AA- rated retail-eligible bonds.
The 4.50% unsecured sterling bonds, due 2026, are guaranteed by A2Dominion Housing Group Limited (A2Dominion), one of the largest social housing providers in London and the south east of England.
A2Dominion operates across 80 local authority areas in London and South East England, as owner or manager of around 34,800 homes, and has approximately a further 4,600 homes in development.
The proceeds of the issue will be lent to members of the A2Dominion Group, which comprises A2Dominion and its subsidiaries.
Cash from the bond issue, which closed after one day due to high demand, will be used to fund A2Dominion's development programme and further grow its diverse portfolio, which includes social housing, private sale and rent, shared ownership and student accommodation.
Canaccord Genuity Limited and Lloyds Bank plc acted as Joint Lead Managers on the transaction.
