18 April 2012. For Immediate Release
Boost for Welsh Investment from THFC Bond deal
Exactly three months after its last issuance, THFC priced a £131m tap of its 32 year THFC Funding (3)
deal today. The transaction was lead managed by Royal Bank of Canada and Royal Bank of Scotland
and was for thirteen underlying borrowers. The credit spread on the deal at 2.05% was inside the
majority of recent own name issues, reflecting over 200% investor demand for the deal and
delivered a yield of 5.37%.
The transaction was spread across a wide range of borrowers. Given recent interest in a ‘Welsh
Bond’, the largest single group of participants were Welsh borrowers: five HAs in this deal added to
the three in THFC ‘s last transaction. THFC has allocated a total of £68m in 30 year + funding to
Welsh Borrowers in the last three months.
“We have a long track record of funding Welsh HAs stretching back to our first deal in 1990. They
see us both as a consistent provider and as a speedy, cost effective route to market” Said Piers
Williamson, THFC’s Chief Executive. “In a sector focussing on value for money, we can evidence
repeated delivery of low cost deals – even for relatively small participations”. The deal also saw the
second drawdown in a phased programme for the G15 member: Network Housing.
THFC’s latest deal brings overall HA public bond issuance to nearly £1.1Bn so far this year.
Piers Williamson:
THFC Chief Executive
Fenella Edge:
THFC Group Treasurer
020 7337 9930
Piers.williamson@thfcorp.com
020 7337 9923
Fenella.edge@thfcorp.com
Nick Bennett
Chief Executive
Community Housing Cymru
029 20 557 400
07944 465649
Association
Final Take
(£m)
Accent Peerless *
10.00
Gail Teasdale
gail.teasdale@accentgroup.org
Bournville
Cadwyn
10.00
3.00
Paul Hayward
Sarah Cole
PaulHaywood@BVT.org.uk
Sarah.Cole@cadwyn.co.uk
Coastal
Charter HA (Seren
Grp)
10.00
Debbie Green
debbie.green@coastalhousing.co.uk
5.00
Wayne Fox / Simon Jones
wayne.fox@seren-group.co.uk
5.00
Bob Weatherall
Bob.Weatherall@cornerstonehousing.ne
Equity
Eryri
Family (Birmingham)
Johnnie Johnson
15.00
3.00
2.50
7.50
Karen Hughes
Ned Michael
Rob Ellis
Harvey Norton
karenh@equityhousing.co.uk
Ned@taieryri.co.uk
rellis@family-housing.co.uk
Harvey.Norton@JJHousing.co.uk
Network Stadium
29.50
Jenny Hodgkins / David Levenson
Jenny.Hodgkins@networkhg.org.uk
Soho
10.00
Sri Murugan
Sri@sohoha.org.uk
Wales and West
10.00
Tony Wilson
tony.wilson@wwha.co.uk
Tony Wilson
tony.wilson@wwha.co.uk
Cornerstone *
Contact
Email - FDs
120.50
Retained Bonds
Wales & West
Total:
10.00
130.50