LIBOR-SONIA NEWSFLASH 9th March 2021

Risk Free Reference Working Group (“RFRWG”) announces cessation of published LIBOR rates On 5th March 2021 the RFRWG announced that ICE Benchmark Administration (“IBA”), which administers and publishes LIBOR settings for all currencies, will cease to publish such rates beyond 31st December 2021. The Financial Conduct Authority (“FCA”) has confirmed that it will not compel…

Sustainability Linked Loans

Background The 2016 UN Paris Climate Agreement signed by 195 countries (and ratified by 190 as of January 2021) sets out a primary objective to maintain the rise in global temperature below 2 degrees Celsius and on a best-efforts basis to limit the increase to 1.5 degrees Celsius. Many large organisations are now committed to…

Shire Housing Association demonstrates long term funding appetite remains

Shire Housing Association engaged ATFS to advise on procuring new funding to refinance existing debt, enable future expansion and to enhance existing office and tenant facilities. A legacy loan facility was also frustrating Shire’s future business planning decisions due to restrictive covenants. ATFS reviewed Shire’s business plan and funding requirements, established key objectives, assessed available…

ATFS advises Hillcrest Homes on successfully raising £50m with extremely competitive terms despite uncertain market conditions

Hillcrest Homes engaged ATFS to advise on a funding strategy to deliver the largest development programme in the association’s history. Critical to future delivery is the securing of a £50m 25-year funding facility at very competitive rates, provided by long-term funding partner RBS. In 2018 Hillcrest raised £70m via a Private Placement, which has supported…

Be aware of your management style in lock-down

As we move into the eighth week of lock-down, conversations with contacts, colleagues, friends and family are starting to include reflections on the differing experiences of working remotely. An emerging and reoccurring theme in these interactions is around the approaches being taken by line managers, and more particularly management styles and communication. Many of us…

Our parent company: Aquila Services Group – commitment to tackling climate change

Making a better, more sustainable and socially responsible world Aquila Services Group (Aquila) has today announced its commitment to become carbon neutral. Aquila is a 90 strong multinational consultancy group, working across a range of socially minded sectors, and with a core purpose of Making a better, more sustainable and socially responsible world. The announcement marks…