Aggregator raises £75m for newly merged housing association

The Blend programme now has several maturities, ranging from 2034 to 2061. The 2061 maturity marks the first 40-year loan from The Housing Finance Corporation, Blend’s parent company, since 1987.

Before the merger, Accord was one of the largest housing and social care organisations in the Midlands, managing 13,000 homes and providing care to roughly 80,000 people.

Accord and GreenSquare said the merger would enable them to invest more in local communities and develop 1,000 new homes every year.

Stuart Fisher, chief financial officer and deputy chief executive of GreenSquareAccord, said: “We are delighted to have secured a long-term funding package through Blend that will help deliver our growth aspirations and fulfil our merger promises.

“This funding will help us deliver our commitment to develop 1,000 new affordable homes a year for some of the most vulnerable people in society. GreenSquareAccord will continue to develop and deliver high-quality services that meet the needs of our existing customers and the communities in which we serve.”

Piers Williamson, chief executive of Blend, said: “Given the resurgence of inflation as a risk factor, the ability to lock in a 2.467% cost of funds for 40 years is a big deal and allows our borrowers to look to the future with confidence as they focus on the huge challenge of becoming net zero carbon by 2050.”

Update at 4:00pm: story edited to clarify that the Blend programme has a range of maturities, not the specific issuance to GreenSquareAccord