Carson McDowell advises Bank of Ireland on £65 million loan facilities to Northern Ireland Co-Ownership Housing Association Limited

31 January 2017

Practice Area: Banking & Finance

Carson McDowell recently advised Bank of Ireland on a £65 million loan facility to Northern Ireland Co-Ownership Housing Association Limited (“Co-Ownership Housing”).

 

Combined with £100 million in financial transactions capital (“FTC”) received from the Department for Communities (the “Department”), Co-Ownership Housing will invest the funding in 2,800 new homes over four years.  

 

The Banking & Finance team is also advising Bank of Ireland on inter-creditor arrangements with the Department in the wake of continued FTC funding to Co-Ownership Housing.

 

The transaction has been described as one of the largest finance deals in Northern Ireland, and further details are available at:

 

http://www.irishnews.com/news/2016/10/06/news/co-ownership-secures-165-million-to-provide-2-800-new-homes-across-north-722865/

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