Macfarlanes advises ARA Venn on £350m first issuance under £3bn bond programme for the Affordable Housing Guarantee Scheme

24 November 2021

Macfarlanes has advised long-standing client ARA Venn, an asset manager of real estate and other secured credit, together with Saltaire Housing Limited and Saltaire Finance on the issuance of £350m bonds pursuant to the bond programme established in June 2021.

The firm also advised ARA Venn earlier in the year on its establishment of the £3bn bond programme for the UK Government’s Affordable Housing Guarantee Scheme.

The proceeds of the bonds will be applied towards the delivery of cost-effective long-term loans to registered providers of affordable homes.

The Macfarlanes team for this matter was led by finance partner Richard Fletcher with assistance from solicitors Kelly Armstrong and Valery Nformba.

Richard Fletcher comments: “We are pleased that the inaugural issuance completed successfully, and we look forward to continuing our support of ARA Venn’s project as it moves ahead.”