Lincolnshire landlord completes £25m loan with bond aggregator

By using previously retained Blend 2032 bonds for the loan to Ongo Homes, execution was “exceptionally swift”, THFC said, within one business day of drawdown notice to pricing the transaction. 

The transaction was executed as the inaugural trade on debt market platform BondAuction. The £25m bonds were sold at a yield of 4.885%. 

THFC said the latest transaction follows a series of successful new benchmark and tap issues through Blend, with £350m of new Blend loans agreed in 2025.

Jakub Palowski, relationship manager at THFC, said: “Today’s transaction underlines the strength and certainty of the Blend model in meeting housing associations’ evolving funding needs.

“By deploying retained bonds via BondAuction’s inaugural trade, we have been able to provide Ongo with swift access to competitively priced, shorter‑dated capital markets funding that supports its long‑term plans for homes and communities. 

“The flexibility of the instalment fee structure has empowered Ongo to take advantage of opportunities at the right time whilst maintaining normal course of business and strong operational liquidity.”

Ashley Harrison, director of resources and commercial services at Ongo Homes, added: “We welcome this drawdown under our instalment fee facility with Blend, which gives us certainty over funding at a time when investment in our homes and services has never been more important. 

“The ability to access pre‑arranged capital markets funding in a single, efficient transaction is a valuable part of our financial strategy and helps us to continue investing in safe, affordable homes across our communities.”