Housing association extends £50m revolving credit facility with Clydesdale Bank to 2028
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Clydesdale Bank has announced that it is extending the £50 million Revolving Credit Facility with English housing association BPHA for five years, with an option to term out the loan for a further five years.
Glasgow-based Clydesdale has supported BPHA, an 18,000-unit housing association operating within the Oxford to Cambridge corridor since 2011 and the bank said the deal demonstrates its “continued commitment to its customers and the social housing sector as a whole”.
The HA employs around 400 staff.
Paul Gray, chief financial officer of BPHA, said: “We are delighted to have agreed this ten-year facility with Clydesdale Bank which will help provide liquidity over the medium term, aid our development ambitions to deliver 600 affordable homes per annum and further our relationship with the bank.”
Elaine Reed, head of social housing at Clydesdale Bank, said: “Extending our commitment to bpha underpins our desire to support this important sector and will assist with the delivery of much needed affordable homes.”
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