It was great to work with Nottingham Community Housing Association (NCHA) to help them secure a new £55m funding from the Affordable Homes Guarantee Scheme (AHGS).
ARA Venn has launched a new bond series of £100m through the Government’s £3bn AHGS, which aims to provide loans to private registered providers (RPs) to assist in the affordable housing sector. The bonds carry the UK government’s credit rating with the cost of borrowing on the bond being passed on directly to borrowers.
Such major investment will support NCHA's development of 2,100 new affordable homes across the East Midlands over the next 5 years - congratulations again!
ARA Venn manages the scheme on behalf of the government and raised the finance through its subsidiary Saltaire Finance, which it set up to act as the funding vehicle for the AHGS. The firm made its debut issuance for the scheme in November, with a 30-year, £350m bond priced at just 38bps over gilts. Of the £100m from the latest 30-year issuance, £55m will be immediately on-lent to Nottingham Community Housing Association (NCHA) to support the development of new affordable homes.