Eildon Housing Association secures £40m funding boost
- Published
The investment will help to build hundreds of new homes in the Borders
A housing association in the Scottish Borders has secured a £40m investment which will help see hundreds of new homes built in the region.
The funding for Eildon Housing Association (EHA) comes from the Pension Insurance Corporation (PIC).
It will enable them to deliver 750 new homes in the area by 2021.
EHA's director of finance Alan Brown said it was a "very significant deal" which would deliver a "major boost to our local economy".
Liz Cain, senior debt origination manager at PIC, said: "This is our first private placement investment with a Scottish housing association, and we are very pleased to have worked with the team at Eildon to complete it.
"We were impressed with their strategic focus, standards of governance and long term approach."