Section: Housing Finance

Sovereign agrees £250m unsecured credit facility to fund ambitious plans

Posted 05.07.19
Sovereign Housing Association: Further reading

With ambitious plans to build even more new and affordable homes, Sovereign has entered into a ground-breaking three-year £250 million unsecured revolving credit facility, syndicated across five lenders.

This deal will provide the 58,000-home housing association with financial security through a potentially uncertain political and economic period.

It will also provide the flexibility and liquidity to allow Sovereign to consider the best time to approach the debt capital markets to raise long-term funding to support its ambitious development programme - taking control through more land-led developments and building 1,900 new homes a year.

The lenders, led by NatWest, include Lloyds Bank, MUFG, National Australia Bank and SMBC.

This is Sovereign's first unsecured borrowing and one of the first major unsecured bank facilities in the sector.


Return to this month's headlines


Keep up-to-date with issues affecting the social and affordable housing sectors

News and views reported in summary format, with links for further reading

Recognisable sub-sections for easy access - now and at a future date

An essential free resource for anyone with a busy daily schedule

Enter your email address to receive our e-newsletters advising on updates to KeyFacts

We will not share your email address with others or use it for any other purpose

Click on the sections below for this month's news

Reporting on July 2019

Site Sections

Bookmark and Share

Current Issue