Blend Funding PLC Potential Future Issue of Notes (3228A)

TIDM51NF TIDM51NF TIDM62TO TIDM94BK TIDM68TX

RNS Number : 3228A

Blend Funding PLC

28 September 2020

NOT FOR DISTRIBUTION TO ANY U.S. PERSON OR TO ANY PERSON OR ADDRESS IN THE U.S.

bLEND Funding PLC

GBP2,000,000,000 Secured Euro Medium Term Note Programme

bLend Funding plc (Blend)) is pleased to announce the addition of a new borrower to the pool of Housing Association borrowers. Further borrowers have obtained the necessary rating and will be joining the pool in the coming weeks. Details of all borrowers are set out on the Blend website https://blendfundingplc.com/

Subject to market conditions, new issues under the EMTN Programme of up to GBP300million may follow. The initial transaction is expected to be a c. GBP175m tap of the 2.922% Notes due April 2054, of which we expect c.GBP100m of the Notes to be sold to investors on day one (the "Spot Sale") with a proportion of Notes being retained by Blend for future sale. GBP75m of the Notes being retained by Blend are expected to be sold to investors under a forward purchase agreement for settlement in up to 12 months' time (the "Deferred Sale").

Blend has mandated HSBC, Lloyds, NatWest Markets and RBC Capital Markets as Joint Bookrunners on the initial transaction. HSBC and Lloyds will act as Placing Agents on the Deferred Sale bonds. NatWest Markets and RBC Capital Markets will act as Active Bookrunners on the expected Spot Sale bonds. The final proportions will be determined in due course at the time of the issue based on prevailing market conditions.

bLEND Funding Plc is a wholly owned subsidiary of The Housing Finance Corporation Limited.

For further information please contact Piers Williamson or Fenella Edge on 020 7337 9920.

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September 28, 2020 11:38 ET (15:38 GMT)

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