Sovereign Network Group has secured a £100m revolving credit facility with AIB Group to support its development pipeline.
SNG plans to build 25,000 homes in the next decade and add to its liquidity headroom.
The firm, formed in October last year following the merger of Sovereign and Network Homes, is one of the largest housing associations in the UK, with more than 82,000 homes across the south of England and London.
Anup Dholakia, director of treasury for SNG, said: “SNG has ambitious plans for the development of 25,000 new homes over the next decade alongside our commitment to our existing customers and communities. The new £100m revolving credit facility is important in helping us realise those ambitions.”
The Winckworth Sherwood Housing Finance team advised SNG. Addleshaw Goddard advised AIB.
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