Corporate

A2Dominion Group issues £160 million funding off its EMTN programme

13 December 2019
A2Dominion has issued £160 million of unsecured funding off its EMTN programme, enabling the Group to continue to grow and build 7,600 homes in its development pipeline.
EMTN-funding
The new funding will enable the Group to build 7,600 homes.
The Group has issued two unsecured deals:

  • £85m with a term of 10 years at a rate of 2.605% arranged by HSBC as Sole Bookrunner, with funding from a European investor
  • £75m with a term of 11 years at a rate of 2.672%. Lloyds Bank Corporate Markets acted as Sole Bookrunner, with funding from a UK investor.
As a residential property group with a social purpose, this funding will help strengthen the Group’s financial position and increases its total facilities to £2.2 billion, with £1.6 billion (net) drawn.

Dean Tufts, A2Dominion’s Executive Director (Finance & Strategy), said: “We are delighted that we have secured this long-term funding of £160 million, further demonstrating the strong financial strategy we have in place. Our EMTN programme provides us with huge flexibility and allows us to respond quickly to market opportunities as they arise.’’