Sovereign Housing Capital Plc Sovereign raises long term funding (5791F)

TIDM56TE

RNS Number : 5791F

Sovereign Housing Capital Plc

28 July 2016

Sovereign Housing Capital plc

28 July 2016

Sovereign Housing Association raises new long term funding

Sovereign Housing Association has today participated in a bond tap by Affordable Housing Finance (AHF), the Government guaranteed aggregator. Sovereign's share of the tap, which was priced at an effective rate of 1.989%, was GBP67m. The funding is repayable in 2043 and will be used to fund new housing development projects in the affordable housing sector.

Notes

-- Sovereign refers to Sovereign Housing Association which comprises of a Group of companies a member of which is Sovereign Housing Capital plc which is a special purpose vehicle established for the purpose of incurring indebtedness and lending the proceeds thereof to members of the Group.

-- Sovereign Housing Association is one of the largest housing associations in the south and south west of England, owning and managing more than 38,000 homes. It offers a wide range of affordable housing options, as well as now adding private market rent and outright sale to its portfolio.

-- Sovereign Housing Association is charitable and includes the non-charitable Sovereign Living Limited, is one of the south's leading affordable home ownership providers.

   --    Sovereign Housing Group is a non-profit organisation. 

ENDS

For further questions or enquiries on this announcement, please contact:

Shane Egan

Interim Head of Governance

[e-mail]

Mob: [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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July 28, 2016 11:50 ET (15:50 GMT)