Yarlington Housing Group has issued a £120m listed bond maturing in 2057.
The housing provider, which focuses on the South West, has sold £60m to an institutional investor and retained £60m for future sale.
TradeRisks, which provides financial advice to housing associations, placed and advised on the bond, which was rated A2 by Moody’s Investors Services. The coupon was agreed at 3.41%.
Yarlington will use the funding to help deliver its corporate strategy commitments, which aim to deliver solutions to the UK housing crisis.
Antoine Pesenti, managing director at TradeRisks, said: “The deferred funding structure of this bond provides Yarlington with certainty over the availability and cost of their funding for the coming years, while mitigating the cost of carry.”
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