Grand Union Group Funding plc
As part of the capital market issue and loan restructuring process, the Group established a special purpose funding vehicle, Grand Union Group Funding plc, which was incorporated in November 2013 to facilitate these new borrowing arrangements.
GUGF plc manages the treasury arrangements and associated security for the bond and new loan facilities on behalf of Aragon Housing Association, a subsidiary of Grand Union Housing Group.
Santander have produced a case study with details of the bond, which can be found here.
GUGF plc is chaired by Mark Webster, an independent member of the Group’s Board. Mark is retired, his last employment was as Head of Housing and Project Finance at Nationwide Building Society.
The GUGF Board is made up of:
- Mark Webster (Chair)
- Clive Williams
- Gillian Walton
- Alan Humphreys
- Anna Simpson