Two UK housing associations have hit the loan market, with Sovereign signing its first unsecured revolving credit facility and Hyde bringing two facilities totalling £350m.
Sovereign signed a £250m deal from five lenders. The A2/A+/NR company is due to repay the facility in three years. NatWest coordinated the deal and was joined by Lloyds, MUFG, National Australia Bank and SMBC.
Elsewhere, NatWest Markets arranged a £200m 10 year loan for Hyde, while Lloyds arranged