BondAuction is pleased to announce the inaugural transaction on its platform. £25m retained of the 5.26% June 2032 bond for Blend Funding Plc, the financing vehicle for The Housing Corporation on behalf of Ongo Homes.
The deal was priced on 2nd February, with Lloyds Bank acting as underwriter on the transaction. BondAuction is an auction platform for the Primary Debt Capital Markets, allowing Issuers and Underwriters to distribute new issues to Buyside Investors, with allotments being determined on a Best Price basis.
Andrea Jelic, Senior Director, Capital Markets:
We are pleased that BondAuction’s inaugural transaction has supported cost-effective funding for our longstanding partner, Ongo Homes, through our Blend vehicle. As the UK’s leading affordable housing aggregator, we welcome innovative, transparent platforms like BondAuction that enhance market efficiency and help us deliver better outcomes for our borrowers.
Spencer Maclean, Co-Founder, BondAuction:
We are pleased that the BondAuction platform has delivered on pricing for The Housing Finance Corporation and their Blend Financing vehicle. By allowing bids with a 1/10bp increment and allotting on a Best Price Basis the platform shows true investor appetite to the Issuer and Underwriter allowing for clear and transparent outcomes. Our thanks to THFC for being the inaugural issuer, Lloyds for support the inaugural BondAuction trade, and our integration partner Liquidnet.
Hayley Basterfield, Global Head, DCM & Bond Syndicate:
Lloyds is pleased to have supported BondAuction’s inaugural transaction, underwriting £25 million retained of the 5.26% June 2032 bond for Blend Funding Plc—the financing vehicle for The Housing Finance Corporation on behalf of Ongo Homes. Lloyds is committed to supporting market innovation and new technology solutions for the benefit of our clients.