Macquarie, an Australian financial services firm, is to provide long-term debt facilities to a UK social housing provider.
Through the Macquarie Infrastructure Debt Investment Solutions (MIDIS) platform, Tuntum Housing Association will receive debt facilities totalling £92.5 million (€104 million).
The housing association owns and manages around 1,500 social and affordable homes in the UK, as well as delivering support services to vulnerable groups such as the elderly, domestic violence victims and refugees.
The bespoke debt package will support Tuntum in its aim to deliver around 280 new affordable and shared-ownership homes over the next five years.
The package includes a £42.5 million committed facility and a £50 million ‘shelf’ facility that will provide Tuntum with the financial and operational flexibility that it needs to grow.
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