Launch: 2025

Multi-Issuer Vehicle

Overview

The multi‑issuer programme provides housing associations (HAs) flexible access to capital markets, alongside the group’s existing funding options. Established in 2025 with capacity of up to £5bn, it is designed to support investment in new and existing affordable homes across the UK.

The programme offers both broader access to capital markets and greater flexibility, including the option to issue zero-coupon bonds that allow interest to be deferred to maturity, helping organisations manage cashflow during major development or retrofit programmes. New structures also enable the use of commercial property assets as security, widening the pool of assets that can support capital markets funding.

Multi-Issuer Vehicle in Numbers

£5bn

Programme Size

5

Financing Vehicles

As of 1 June 2026

Key Advantages

Broader Market Access

Opens up a range of capital markets funding tenures to a wider range of housing associations across the UK.

Flexible Issuance Routes

Provides HAs flexible entry points into the capital markets for tailored solutions.

Adaptive Vehicle Design

Accommodates a broad range of HAs via vehicles structured to reflect differing credit ratings, governance gradings and complex group structures.

Aggregation and Diversification

Delivers aggregation benefits for similar credits, delivering differentiated pricing options aligned to credit profiles.

Contact Us

We’re here to help you channel finance into lasting impact. Get in touch to explore how we can support your mission – one home, one partnership at a time.

Contact Details

Location

3rd Floor, 17 St. Swithin’s Lane,
London, United Kingdom, EC4N 8AL

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