The bond, the housing association’s third public issue since 2009, pays an all-in rate of interest of 2.475%.

Sovereign housing association has issued a £375m bond to support its construction activities.

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The group, which operates nearly 60,000 homes across the south of England, said the 29-year bond included a £125m retained element which it would issue at a future date.

The bond, Sovereign’s third public issue since 2009, pays an all-in rate of interest of 2.475%.

Tracey Barnes, Sovereign’s finance chief, said: “This is an excellent result and will allow Sovereign to continue to do more for people and places, delivering our ambitious plans and maximising our social impact.

“The strong book build and overwhelming appetite from investors really confirms Sovereign’s standing and financial strength, particularly given these turbulent economic and political times.”

The group said as part of its current five-year strategy it planned to build nearly 2,000 homes a year through a “land-led approach”.

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