Macfarlanes advises ARA Venn on establishment of £3bn bond programme for Affordable Housing Guarantee Scheme

07 July 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 plc on the establishment of a new £3bn bond programme for the Affordable Housing Guarantee Scheme.

The scheme extends ARA Venn’s collaborative relationship with the UK government to support the sustainable development of its housing sector and highlights Venn’s commitment to environmental, social and corporate governance.

The firm previously advised ARA Venn on its appointment as delivery partner for the £3bn Affordable Housing Guarantee Scheme in 2020 and the establishment of a £3.5bn bond programme for the Private Rented Sector Housing Guarantee Scheme in 2015, which ARA Venn was appointed to establish and manage by the Secretary of State for the Department for Communities and Local Government in December 2014.

The team for this matter was led by finance partner Richard Fletcher and involved a cross practice team including competition partner Malcolm Walton and senior counsel Fiona Beattie, tax and reward senior counsel Kirsten Prichard Jones and senior solicitor Shaul Steinberg, Head of VAT Chris Mortimer and senior VAT manager Charishma Bhujohory and finance solicitors Valery Nformba and Kelly Armstrong.

Richard Fletcher comments: “We are pleased to have been able to assist ARA Venn once again on this significant mandate and we look forward to continuing our support in relation to this scheme and its delivery of positive social impact.”