Centrus is shortlisted for Best Professional Services Firm for the HANA Awards 2018
Centrus is widely recognised as the leading specialist independent treasury and corporate finance advisor to the housing association sector in England, Wales and Ireland.
Formed in 2012, Centrus quickly established this position of strength and was previously awarded HANAs ‘Best External Professional Advisor’ where judges recognised our “strong track record on delivery and innovation” and described us as a “clear winner”. The HANAs are the number one awards event in social housing finance and Centrus is delighted to have been shortlisted for the new category of “Best Professional Services Firm” in 2018.
We highlight the following achievements and should you have any questions in relation to how Centrus could help your organisation, please get in contact and we would be happy to assist.
Our Client Base Speaks Volumes
Centrus has been engaged by approaching 100 housing associations, including 12 of the G15 and many leading national and regional providers, as well as smaller locally focused and specialist operators. Our advice is delivered by a specialist team which includes renowned experts in debt capital markets, banking, derivatives, financing strategy and risk management. We have been involved in many of the key market developments and ground-breaking financing transactions as well as supporting our growing client base with ensuring their treasury platforms generate value for money combined with prudent risk management.
Centrus has been independently recognised as the No.1 advisor in the Capital Markets by Social Housing Magazine in its last two published league tables for the number and value of transactions. These surveys cover the period April 2014 to July 2017 where Centrus advised on the arrangement of c.£2.5 billion of private placements and public bonds.
Centrus continues to be at the leading edge of raising finance from institutional investors. We maintain strong and up-to-date relationships with a wide variety of domestic and international investors ensuring that a variety of funds and structures are available to our clients as well as ensuring competitive tension to drive optimal terms.
Centrus is at the forefront of innovations including the first ‘shelf’ facility, the largest direct investment by a single investor, a predominately shared ownership secured facility, the largest private placement to date, and financing a unique joint venture between four housing associations.
Centrus is also highly active in the bank market having raised and/or restructured over £3bn of bank finance in the past year. We have excellent relationships with all key funders and we see maintaining a professional relationship with them as central to our ability to deliver value for clients. Part of our role is encouraging new lenders into the sector, increasing competition and driving down costs for our clients. Centrus was instrumental in HSBC and BTMU entering the market and both lenders have since made significant impacts. With our guidance there are further similar lenders entering the sector ; watch this space!!
Although there is less scope for innovation in this financing market, Centrus has developed structures which include features that enable corporate flexibility, term extension optionality, reduced non-utilisation costs and improved security efficiency (including unsecured funding).
Mergers & Corporate Restructures
Centrus is the clear market leader in M&A advisory, having worked on over 30 mergers, including many of the largest and most complex combinations which, in recent times, include Clarion, Optivo, Sovereign, PA Housing, Places for People & Liverty.
We have also led on many corporate restructures, with recent examples including Your Housing and Plus Dane, as well as the several high profile ‘rescue’ situations.
These engagements span the full spectrum of corporate finance advisory. For the six mergers referenced above, in addition to negotiating very advantageous terms Centrus has enabled these clients to reduce the cost of lender consents by approaching £200 million (when comparing initial lender proposals to final negotiated terms).
Systems, Reporting & Valuation Services
Centrus also provides access to market-leading technology which reduces risk and improves governance in treasury monitoring and reporting services. This also brings increased efficiencies for our clients.
Our desire to innovate and entrepreneurial spirit has also created off-shoot organisations the ideas for which have been germinated within Centrus before becoming independent and successful organisations. Examples include:
LINQ Housing PLC: A financing model to support volume delivery of good quality affordable housing through an efficient capital and funding mechanism, de-risking development programmes and addressing challenges faced by housing associations in terms of valuations, loan covenants and restrictions arising out of their existing funding arrangements
AssetCore Limited: a unique tool developed to streamline asset related transactions and processes for housing associations where the extensive data structure and sector defined content promotes standardised and consistent capture and share of asset related information and documents. AssetCore provides immediate visibility to the legal and financial interest an organisation has in its asset portfolio and enables clients to share up to date information and documents with other sector users as well as interface with other internal data systems.