£40m finance for One Vision

M&G Investments has provided a £40m long-term loan to Merseyside housing association One Vision Housing.

The 30-year private placement allows One Vision Housing to refinance existing bank debt, fund development plans and continue regeneration work.

One Vision Housing provides more than 11,500 homes across Sefton, Merseyside.

London-headquartered M&G is an international active asset manager, investing on behalf of individuals and institutions. At 31 March 2014 the firm managed over £248bn of assets through a wide range of investment strategies across equities, bonds, property and multi-asset.

One Vision Housing was advised by Royal Bank of Scotland and David Tolson Partnership.

Roy Williams, chief executive of One Vision Housing, said: "This funding places us on a secure financial footing and will ensure we are able to fulfil our immediate and long term ambitions to develop and maintain high quality affordable homes and create a lasting legacy in our communities."

Mark Davie, head of social housing at M&G Investments, said: "Our pension fund clients continue to seek cash flows over the long-term which are secured against residential property. M&G has now invested over £4bn in UK social housing through property transactions, public bonds and private placements and we're keen to do more."