‘Business as usual’ for UK housing firms Sanctuary, THFC

19 Apr 2012

Two UK social housing associations sold bonds this week, reflecting the stability of demand for such credits in the sterling market, despite a week buffeted by alarms in the wider financial world.

Sanctuary Group’s was the bigger deal, a £300m issue on Thursday that was priced at a tight 12bp new issue premium.

Lead managers Barclays and Lloyds announced the deal on Thursday morning as a benchmark 35 year issue, after a roadshow on Monday, Tuesday and Wednesday.

Before the roadshow’s announcement, ...

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