VIVID Housing has secured a new £200m (€235.3m) loan issued via the UK government-backed affordable housing lending scheme, managed by Venn as part of a Venn newly launched bond series.
Venn said the loan to VIVID was issued through the issuance of the new 16-year bond under the Affordable Homes Guarantee Scheme (AHGS).
VIVID owns and manages more than 36,000 homes throughout the South of England. The latest loan represents the second loan provided to VIVID under the government-backed lending scheme, following an initial £185m loan in 2021 which has funded the completion of over 950 new homes.
Will Roberts, director at Venn, said: “VIVID are very successfully delivering quality homes in areas of high demand and need. We’re delighted to have worked with them again and tailor a new issuance to fit their needs. This also creates a complementary new point on our issuance curve which other borrowers will be able to use.
“It’s great to have another repeat borrower under the scheme and this second loan demonstrates the scheme’s ability to have a very positive impact for the sector by funding at scale.”
Jonathan Roberts, group treasurer of VIVID, said: “We’re delighted to continue our partnership with Venn under the Affordable Homes Guarantee Scheme. This maturity fits perfectly into our debt portfolio and will significantly bolster our efforts to deliver much needed affordable homes.
“The team at Venn has been patient, agile, and a pleasure to work with while navigating a volatile market.”
AHGS is the second UK government lending scheme awarded to ARA Venn following the £3.5bn PRS Guarantee Scheme awarded in 2015 which was dedicated to the private rented sector.
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