MUFG has closed a £75m Revolving Credit Facility (RCF) with Southern Housing Group and £50m RCF with A2Dominion Group respectively. The Groups are two of the largest registered providers of social housing in England.

The RCFs will facilitate both entities with the liquidity to enable their continued growth and development, thereby supporting the government's agenda to build more homes and meet the UK's housing needs.

MUFG acted as Mandated Lead Arranger and Facility Agent on both facilities.

Sanjay Narberham, Director, Housing Finance in EMEA at MUFG, said:

"MUFG are pleased to be able to support these two organisations meet their aspirations to build much needed new homes. We all share an ambition to support housebuilding across the UK and we were delighted to support Southern Housing Group and A2Dominion Group at an important time for both businesses. MUFG has been supporting the sector for over three years and these two relationships will be a great addition to our portfolio. We look forward to working with both organisations over the coming months and years."

James Francis, Group Finance Director at Southern Housing Group, added:

“We have been working closely with new and existing lenders on building the capacity and liquidity to further our social objectives. This deal with MUFG represents an important milestone in the process."

Dean Tufts, Executive Director (Finance and Strategy) of A2Dominion, added:

"Our facility with MUFG will enable us to take on more development opportunities. We aim to provide around 6,000 new homes in the next five years and this funding will help us achieve this. We are delighted to work with MUFG, whose experience and skills have made this process very easy."

Both Southern Housing Group and A2Dominion are members of the G15, which represents London's largest housing associations and provides homes for one in ten in the capital. The former has aspirations to develop 2,500 units by 2020 whilst the latter aims to develop 6,000 units over the next five years.