Allia C&C has acted as financial adviser to Yorkshire Housing Limited for the repurchase and surrender of £7m nominal Haven Funding (32) Plc 7% Secured Bonds due 2032.
Haven Funding (32) Plc is a special purpose issuing vehicle of The Housing Finance Corporation (THFC), a finance aggregator for affordable housing in the UK. The funds raised through the issue of the 2032 Bonds were loaned to various housing associations, including Yorkshire Housing. Following the surrender of the Bonds, the full amount of the loan to Yorkshire Housing was deemed to be prepaid.
We are pleased to have assisted Yorkshire Housing throughout this process, which included executing the trade in challenging market conditions and liaising with THFC, Yorkshire Housing and the trustee to arrange settlement, delivery and surrender of the bonds.