A2Dominion £100m Revolving Credit Facilities
A2Dominion (“A2D”) is a leading housing provider and property developer, managing over 35,000 homes across London and the South-East. Centrus was appointed by A2D to support the process of raising £100m of new revolving credit facilities to support the growth of the business. By utilising our relationships in the banking market, Centrus was able to run a competitive process involving more than 10 lenders including a number of A2D’s existing relationship banks. Centrus and A2D worked together to to prepare a very detailed Information Memorandum in order to provide potential lenders with the necessary level of credit information required to support their internal processes.
The level of competition created, enabled A2D to take a strong negotiation position which allowed it to protect its preferred covenant package and form of documentation. In addition to assessing qualitative factors, Centrus provided clear and transparent benchmarking of terms, taking into account all elements, including headline margin, arrangement fees, commitment fees and other costs across a range of utilisation scenarios to facilitate clear decision making. Through the negotiation process with lenders we were able to demonstrate clear value in arriving at an excellent outcome for A2D which also established a new lending relationship with a leading international bank.