bLEND Funding PLC Announces £3bn Euro Medium Term Note Programme
Why we think this is neutral
This RNS announcement provides a general update on bLEND Funding PLC's £3bn Euro Medium Term Note Programme, including the addition of a new borrower to the pool of Housing Association borrowers. As it does not contain any specific financial or operational updates, the sentiment is considered neutral.
Key Points
- Addition of a new borrower to the pool of Housing Association borrowers
- Mandated Lloyds and NatWest to explore a £200m social, senior secured bond offering
- £95m of the £200m bond offering expected to be retained
Summary
bLEND Funding plc, a wholly owned subsidiary of The Housing Finance Corporation Limited, has announced the addition of a new borrower to the pool of Housing Association borrowers under its £3bn Euro Medium Term Note Programme. The company has also mandated Lloyds and NatWest to explore the possibility of a £200m social, senior secured Reg S, fixed rate, 6-year bond offering, of which £95m is expected to be retained. The notes are expected to be rated A2 by Moody's.