Housing association secures £75m loan with Japanese bank

A Bedford-based housing association, bpha, has secured a new £75m loan facility with Bank of Tokyo Mitsubishi.

The association serves the counties to the North and West of London. It has c18,000 properties mostly located between Oxford and Cambridge.

The 10-year revolving credit facility agreed with the Bank of Tokyo Mitsubishi is one of the Japanese bank’s few loans to the social housing sector.

Julian Barker, Head of Finance at Devonshires, said: “We are delighted to have worked with bpha in securing new finance on attractive terms, to be used for its ongoing development pipeline.”

The Devonshires team was led by Barker, assisted by Carolyn Thomas.