Case Studies
Delivering successful outcomes for our clients

Centrus advises Fold Ireland on Debt Capacity Review and TMP recommendations

FOLD Ireland provides apartments and houses for older people and families. In addition, it provides supported housing with 24-hour care for frail and older people.

FOLD is a not-for-profit company limited by guarantee and a Tier 3 Approved Housing Body.  Its organisational purpose to date has been to develop partnerships with local authorities, appropriate care providers and developers in greater Dublin and in the border counties to provide social housing at these locations.

Centrus were engaged by FOLD to provide a debt capacity review and analysis report to Fold’s board, to provide assurance that its treasury policy and proposed funding strategy under its corporate strategy and business plans were appropriate relative to peers. Following on from the review, we assisted FOLD in updating their Treasury Management Policy (“TMP”) to ensure that management and board best practices were documented.

This work included the following:

  • Detailed review and analysis of the existing debt portfolio and projected debt required to fund growth projections under the corporate plan, including a review of the appropriate funding mix and forecasts of key covenants set out by the boar and regulator requirements.
  • Utilised our market leading expertise in the social housing sector to advise FOLD on market best practices and benchmarking of the relevant debt ratios.
  • Provided recommendations on key aspects of a longer-term funding strategy in order to align growth plans more closely with the availability of future capital sources
  • Outlined the key considerations to be addressed within the TMP update resulting from FOLD’s strategic growth plan. These included liquidity, counterparty, operational and regulatory risks.
Urs Lanz, Director of Finance and Corporate Services - Fold Ireland I found Centrus to be very professional with significant expertise in Treasury matters when dealing with them. The team members were very approachable and the requested remit was successfully completed. I would have no hesitation to recommend Centrus to prospective clients.