Futures Treasury Plc (3.375% Feb 2044): 12 February 2019

The net proceeds from the issue of the Bonds will be immediately purchased by the Issuer on the Issue Date, and will be advanced by the Issuer to Futures Homescape Limited (FHL) and Futures Homeway Limited pursuant to bond loan agreements between each Original Borrower and the Issuer to be dated on or around the Issue Date.

Futures Housing Group Limited (the Group Parent) was incorporated on 26 June 2007 as a private company and is a Registered Provider of Social Housing (with registered number L4502). The Group Parent is the non-housing asset owning parent of the Group. It was formed as the parent of FHL (previously Amber Valley Housing Limited), FHW (previously Daventry and District Housing Limited) and, indirectly, Five Doorways Homes Limited (5D) (which was established as a subsidiary of FHL on 12 February 2004).

The Group operates across the East Midlands (mainly Derbyshire, Nottinghamshire and Northamptonshire) providing high quality affordable homes for people in housing need and a caring and responsive housing service. The majority of the properties owned by the Original Borrowers are for general needs housing and housing for older people. The Original Borrowers also own a small portfolio of homeless properties, market rent properties and properties for people with learning difficulties and/or drug and alcohol issues.

The valuation of the 4,260 rented Properties on the Basis of EUV-SH is

Category of Property ............................................. No. of Dwellings .....................................EUV-SH

All rented properties ...............................................4,260 .....................................................£174,470,000
Nil Value Assets ........................................................61 ...........................................................£0
Total ..................................... ................................. 4,321 ..................................................... £174,470,000

Each Borrower shall deliver a Desk Top Valuation in the period between 31 March and the date falling 120 days thereafter in each year other than a year in respect of which a Valuation Report is required to be delivered under Clause 12.1 (Valuations) of each Original Loan Agreement and the corresponding clause in any Additional Loan Agreement. The first Desk Top Valuation must be delivered within 120 days of 31 March 2020.

Lindsey Williams, Futures Housing Group’s Chief Executive, said: “This is an investment in Futures and reflects everyone’s hard work across the organisation which has created an agile, effective and efficient business. It has also positioned us for further growth and more partnerships.”