Hints of HA fatigue as East Thames raises £250m

07 Jun 2012

East Thames, a housing association with about 14,000 homes in East London and Essex, made its bond market debut on Thursday, raising £250m of 30 year debt.

The Aa3 rated secured bond, due June 2042, was sold by bookrunners Barclays, Lloyds and Royal Bank of Scotland at 250bp over the 4.5% December 2042 Gilt.

The issuer raised the money it wanted, but one banker said: "I see a lot of investor resistance to these housing association ...

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