Anthony Collins raises 250m for WHG
Mon, 13th October 2014

Anthony Collins raises £250m for WHG

Birmingham-based law firm Anthony Collins has completed its first publicly listed bond deal worth £250m on behalf of Walsall Housing Group (WHG).

The housing group will use the money to finance the development of an extra 2,000 affordable houses over five years.

Natalie Singh, partner and head of funding at Anthony Collins, who led the firm's capital markets team, said: "I am delighted that we have completed our first-ever listed bond, reflecting the growing appetite of the housing association sector to go to the capital markets to fund their longer-term growth plans.

"This additional funding will have a major positive impact on the further regeneration of Walsall and the wider Midlands. It has been a challenging transaction to achieve in the timescales set."

The new bond has also been partly used to refinance WHG's legacy bank debt from a syndicate of lenders.

The joint book runners were Lloyds Bank and Santander. WHG has retained £75m of the total amount for drawdowns in the near future.

WHG owns and manages about 20,000 houses across Walsall and was formed from a housing stock transfer from Walsall Council in 2003.

category Midlands  |  source Insider Media