Affordable housing specialist Heylo Housing has appointed two banks to help raise £620m of debt.
The joint venture between Lancashire County Pension Fund and Assettrust Housing has appointed UBS and RBC to raise the debt as it seeks to deliver more than 6,000 homes over the next three years.
The company says it is in discussions with national and regional house builders including Bellway to deliver the properties.
Nicholas McAlpine-Lee, chief executive of Heylo, said: “Having already committed our initial fundraising from our cornerstone local authority pension fund investor, we are delighted to appoint the experienced teams at UBS and RBC to help us raise these additional funds, which we will happily put to work delivering thousands of new affordable homes across the UK.”
