Sign up to our Editors Choice newsletter now! Click here

Private placement deal sees £40m ploughed into Merseyside HA

Accessibility Menu

Menu Search

24dash - The UK's most up-to-date social housing and public sector news website

Private placement deal sees £40m ploughed into Merseyside HA

24DASH.COM Logo

Published by Max Salsbury for 24dash.com in Housing and also in Finance

Private placement deal sees 40m ploughed into Merseyside HA Private placement deal sees 40m ploughed into Merseyside HA

Image: Money via Shutterstock

An international investment manager has provided £40 million in long-term finance to Merseyside housing association One Vision Housing (OVH).

The 30-year private placement deal will allow OVH to refinance existing bank debt, fulfil its development ambitions and continue its regeneration work.

Roy Williams, OVH chief executive, said: "This funding places us on a secure financial footing and will ensure we are able to fulfil our immediate and long term ambitions to develop and maintain high quality affordable homes and create a lasting legacy in our communities.

Mark Davie, head of social housing at M&G Investments, added: “Our pension fund clients continue to seek cash flows over the long-term which are secured against residential property. M&G has now invested over £4bn in UK social housing through property transactions, public bonds and private placements and we’re keen to do more.”

OVH provides more than 11,500 homes across Sefton, Merseyside.

Comments

Login and comment using one of your accounts...