Notting Hill Genesis has secured a £250m facility from The Housing Finance Corporation.
The £250m instalment fee facility will support the housing association’s liquidity as it continues to invest in its existing housing stock across London and develop new homes.
The transaction was structured through Social Housing Finance 2 and forms part of The Housing Finance Corporation’s new multi-vehicle funding structure, which broadens access to capital markets for housing associations across the UK.
Ken Youngman, interim CFO of Notting Hill Genesis, said: “As a long-standing partner, The Housing Finance Corporation understands our ambitions and the challenges facing the sector. This funding provides additional flexibility as we continue to deliver for our residents and communities. The facility strengthens our liquidity position and supports our wider treasury strategy.”
Gavin Richards, relationship director at The Housing Finance Corporation, added: “Access to the right finance can make a real difference to housing associations and the communities they serve. This facility gives Notting Hill Genesis additional flexibility to meet its funding requirements and improve homes and services. Providing finance with impact is about supporting organisations to deliver tangible benefits for residents and the long-term sustainability of affordable housing.”
