Welsh housing association secures £30m private placement and £5m revolving credit facility | News

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Welsh housing association secures £30m private placement and £5m revolving credit facility

Welsh housing association RHA has successfully secured a £30m private placement and £5m revolving credit facility in a debt restructure.

The transaction has streamlined RHA’s treasury portfolio and secured long-term interest rate security, providing RHA with increased capacity and a strong financial platform from which it can deliver its growth ambitions.

Luke Takeuchi CEO of RHA said: “I am delighted that we have managed to achieve this positive outcome in a challenging operating environment. Our strategic review into our treasury management strategy has been expertly led by Centrus and I am very pleased with the way in which our Board and Executive team have worked closely over the last 12 months to deliver on the objectives we set.”

Sara Foster, Director of Resources RHA said: "The new funding has simplified our legacy treasury portfolio, providing us with improved covenants, increased capacity and a strong basis on which to deliver our corporate plan and growth ambitions."

RHA is a Housing Association based in Rhondda Cynon Taff who managed over 1,800 homes.

 

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