Grand Union Housing debuts, Great Places to come tomorrow
Grand Union Housing Group, a UK housing association, issued its first bond today, with a £150m deal of which £35m of bonds were retained for sale later. Another housing association is due to issue £50m tomorrow.
Formed in 2008, Grand Union provides social housing in Bedfordshire, Northamptonshire and Buckinghamshire, managing over 10,000 properties. It is newly rated A2 (stable) by Moody’s.
The deal raised money for one of Grand Union’s three charitable subsidiaries, Aragon Housing Association, via Grand Union Group Funding Plc.Lead managers ...