TRAINING – TRANSITION FROM LIBOR TO SONIA
“We commissioned 2TIX LTD to run a small-group training session on the transition from LIBOR to SONIA via Microsoft Teams. The training covered all the necessary details including the background to the change, the key actions we will need to take, and how to calculate interest on a Compounded SONIA loan.
The presentation was thoroughly researched and from his extensive knowledge Adrian was able to answer all our questions. It was a very worthwhile session and we would certainly recommend him.”
“Clive has a wealth of experience in the funding of housing and has assisted OVH over many years, enabling the group to meet its growth ambitions. He has helped us with some very complex treasury arrangements whilst at the same time being able to develop and train the Board in a manner that is easily understood. He is extremely approachable, always professional and has developed effective relationships with board members at Sovini and the executive team.”
“Based on the advice in the treasury strategy that Adrian devised, the board agreed to arrange a new loan in order to ensure that we were able to proceed with an important new development of homes. Working to a strict timetable, Adrian calmly supported us through the whole process, giving sound advice at every stage and this enabled us to complete the loan on time and on budget. ”
“The board agreed to go ahead with a landmark development and this decision required top-up funding to be available before the development contract could be signed. Adrian became a full member of the delivery team; he was always available when needed and helped manage the whole process from start to finish. He provided guidance on the possible pitfalls, supported both the executive and the board’s decision making and providing challenge and proactive encouragement to Alpha throughout.”
RETAINER TREASURY SUPPORT
"Adrian provides a wide range of treasury services and advice via a retainer arrangement. This has allowed us to call upon his extensive knowledge to support treasury strategy and operational decision-making. He is very responsive to our requirements and is regarded as a key member of the MTVH treasury operation, available to call upon at short notice.”
FIXED RATE LOAN RESTRUCTURE
“A mismatch between a loan repayment schedule and a fixed rate agreement came to light. Adrian investigated; his quick but thorough report was able to prove that the bank had inadvertently created the issue. He then devised a technical solution that fixed the problem without any gain or loss for either party. His plain language explanations helped us negotiate with the bank and his support helped ensure the bank paid costs. We were very pleased with the support Adrian gave, which delivered a fantastic result.”
LONG TERM FIXED RATE LOAN
“Following a review of borrowing options, The Regenda Group board took the decision to borrow from bLEND to provide £25m of additional long term loan funding. Adrian supported the board and executive throughout the review and up to completion and with his help we borrowed on a 15-year deal at an all-in cost of 2.83% fixed. At the time this was the lowest yield achieved by bLEND. We were delighted with the outcome; the whole process, including the rating work, was very smooth and quick and this funding will help us deliver our target of nearly 1,300 homes over the next 5 years”
“Adrian provided expert advice and support, showing a good awareness of the market. His expertise enabled us to agree improved terms with our current main lender, making the process quicker and easier, whilst delivering value for money. The project supports our ambition to provide more affordable homes for people across Yorkshire. We worked to an initial plan and reviewed progress through short, regular phone calls which kept all parties informed of progress in an efficient way. The reporting to board was also well-received, identifying the main points of the deal and highlighting points to note.”
"The treasury strategy that Adrian developed was informed by a thorough review of the Business Plan and associated issues such as valuation and security capacity, and wider economic analysis. It set out clear and reasoned recommendations for managing both debt and cash balances in the current year, and a track towards a complex refinancing thereafter. It also included useful commentary on the Group’s Business Plan assumptions. It was commended by the Group Board for its readability and the clear explanation of technical issues to lay people. "