Swan Housing Capital Swan receives GBP50m secured loan from Sanctuary (9524G)

TIDM61HI

RNS Number : 9524G

Swan Housing Capital

18 November 2022

Swan Housing Capital plc

18 November 2022

Swan receives GBP50m secured loan from Sanctuary

Swan Housing Association has today confirmed that Sanctuary Affordable Housing Limited (a member of the Sanctuary group) has provided it with a secured loan of GBP50m.

The loan refinances the secured loan previously advanced by Orbit Group during partnership discussions between the two housing associations. The loan also provides additional liquidity into Swan.

Swan is currently in discussions with Sanctuary Housing Association about a possible business combination that, if completed, would result in Swan becoming a subsidiary of Sanctuary on 30 November 2022.

Any future agreement regarding a possible business will be subject to detailed due diligence and the approval of the boards of both organisations.

ENDS//

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November 18, 2022 08:31 ET (13:31 GMT)