Birmingham-based housing association Longhurst Group has raised £100m in bond sales to drive development in the region.
It aims to deliver 750 homes each year for the next five years.
The housing association is one of the largest in the Midlands, with a portfolio of more than 23,000 homes in 50 local authorities.
Longhurst sold 2,043 retained bonds following an investor roadshow and bond launch on 4 March.
The bonds were originally issued by its funding vehicle Libra 2 Treasury Plc in 2018.
Longhurst said the sale was four and a half times oversubscribed, with more than £400m in bids received.
Deputy chief executive and chief financial officer Rob Griffiths said: “The sale of these retained bonds provides the group with further liquidity that ensures we are in an even stronger position to realise our development ambitions.”
It follows the launch of a £250m bond sale from Optivo at the start of the week.
Housing associations are increasingly turning to bond sales to raise finance, following cuts to public grants and drops in market sales squeezing surpluses used to cross-subsidise affordable housing delivery.
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