A2Dominion has Secured £75m Funding for their Development Pipeline
A2Dominion has Secured £75m Funding for their Development Pipeline
29 January 2019

A2Dominion has agreed a new £75m unsecured funding deal with BAE Systems Pension Fund which will enable the Housing Group to build over 7000 homes in their development pipeline. The agreement will see the draw down of funds in 2022 which will minimise risks with regards to A2Dominions £150m retail bond which matures in October that year. It also remove any market risk during this volatile period.
 
Mr Dean Tufts,A2Dominion’s Executive Director of Finance & Strategy said “despite having £550m liquidity in the form of undrawn facilities and cash, A2Dominion has an ongoing financing need and the proposal from BAE Systems Pension Fund offered something different.”
 
“In essence, we have always prepared for volatility within our treasury strategy. We always look to have a high level of liquidity and forward liquidity. This helps our liquidity in three years’ time.”
 
A2Dominion continues to aim for the development of 1,200 new homes per year.