Corporate
The transaction is designed to refinance future maturing secured loan facilities. This further strengthens the Group’s liquidity and will enable it to continue to grow and proceed with new development opportunities.
The funding was provided by Phoenix Group, Europe’s largest life and pensions consolidator. The transaction was arranged by Centrus Advisors.
A2Dominion’s Executive Director (Finance & Strategy), Dean Tufts, said: “This long-term funding further demonstrates the prudent and forward looking financial strategy we have in place at A2Dominion. We are pleased to have worked with Phoenix to agree new funding with a deferral period and will continue to look for similar opportunities to support our aim to provide high quality homes and invest in local communities.”
Phoenix Group’s Head of Financial Management Group, Scott Robertson, said, “We are delighted to be supporting A2Dominion’s strategic plans to deliver more homes in southern England. This transaction provides long-term funding tailored to A2Dominion’s development plan as well as providing a high quality stream of cash flows to match our pension liabilities.”
Devonshires provided legal advice to A2Dominion Housing Group Limited, with Pinsent Masons LLP providing legal advice to Phoenix Group.
£50million private placement boost for A2Dominion
11 February 2019
Residential property group A2Dominion Housing Group has closed a secured funding of £50million, with settlement deferred to March 2020, a final maturity of March 2045 and a weighted average life of 20 years. This has been priced at a fixed coupon of 3.514%.
The new funding strengthens A2Dominion Group’s liquidity and will enable it to continue to grow and proceed with new development opportunities.
The funding was provided by Phoenix Group, Europe’s largest life and pensions consolidator. The transaction was arranged by Centrus Advisors.
A2Dominion’s Executive Director (Finance & Strategy), Dean Tufts, said: “This long-term funding further demonstrates the prudent and forward looking financial strategy we have in place at A2Dominion. We are pleased to have worked with Phoenix to agree new funding with a deferral period and will continue to look for similar opportunities to support our aim to provide high quality homes and invest in local communities.”
Phoenix Group’s Head of Financial Management Group, Scott Robertson, said, “We are delighted to be supporting A2Dominion’s strategic plans to deliver more homes in southern England. This transaction provides long-term funding tailored to A2Dominion’s development plan as well as providing a high quality stream of cash flows to match our pension liabilities.”
Devonshires provided legal advice to A2Dominion Housing Group Limited, with Pinsent Masons LLP providing legal advice to Phoenix Group.
