Housing association strikes £70m finance deal to support next five years of development

ONE of Scotland’s best-known housing associations has announced a funding arrangement to provide it with access to £70m.

Link Group says it has agreed the deal with the Bank of Scotland, adding that the money will provide “flexibility and liquidity…. to support [our] on-going development programme for the next five years”.

Says a news item from Link, here: “The agreement, which includes an existing £10.7m loan, puts in place a five-year Revolving Credit Facility of £60m.”

The ‘revolving credit’ aspect allows Link to use money, pay it back and then withdraw it again.

Pictured: A Link Group development in Dalmarnock, Glasgow, Picture credit: Link Group

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