You are viewing 1 of your 1 free articles
A2Dominion borrows £75m from Barclays
Large London housing association A2Dominion has borrowed £75m in a revolving credit facility from Barclays.
According to A2Dominion, the 38,000-home social landlord will use the money to help it build 7,600 new homes in London and Southern England.
It plans to deliver 1,200 new homes each year from 2020, an aim which has not been reduced despite the worsening market conditions in London.
Some other large housing associations in the area, by contrast, have decided to scale back on development in order to reduce its market risk.
Dean Tufts, executive director for finance and strategy at A2Dominion, said: “We are pleased to have worked with Barclays Bank to secure this new funding, demonstrating the forward-looking financial strategy A2Dominion has in place.
“Despite the uncertain times, we continue to remain committed to building more affordable homes and investing in the communities that we work in.”
Andy Taylor, relationship director at Barclays Corporate Banking, added: “A2Dominion is a valued existing client of Barclays’ social housing team and by providing a new £75m revolving credit facility that further supports A2Dominion’s planned development programme of 7,600 new homes, we’re pleased to be able to help them grow further.
“We’re proud to be able to continually support the social housing sector and our clients to deliver much-needed affordable and for sale housing.”
