The Housing Finance Corporation’s Blend Funding (Blend) vehicle has provided Surrey-based social housing provider Raven Housing Trust with funding of £100m.
The facility comprises a £50m retained bond sale and a further £50m available through a new instalment fee facility. The transaction marks Raven Housing Trust’s first participation in the Blend 2032 benchmark,
Mark Baker, director of resources and deputy chief executive at Raven Housing Trust, said: “As first-time users of Blend, we’re very pleased with the outcome. Blend allowed us to secure attractive rates when the market was right for us, while receiving the funds only when we needed them. That flexibility has delivered a meaningful saving and means our funding fits our plans, not the market’s timing. It will help us deliver more than 2,200 homes across a range of tenures, providing more affordable homes and building stronger communities.”
Andrea Jelic, senior director capital Markets at The Housing Finance Corporation, added: “We are pleased with this result for Raven. Working together, we were able to shape a solution around Raven’s specific objectives. Its thorough preparation supported by Blend’s flexible structure meant Raven could act when the market was right, securing attractive funding while keeping control of when the cash arrived. It shows that, even in volatile markets, housing associations can find opportunities, gain greater certainty over their funding and keep delivering the affordable homes their communities need.”
