How can Capsticks help?
- Social housing finance
We have an exceptional track record in supporting hundreds of RP clients with their financing and charging projects. Our team has decades of experience in this area and we can advise on entering into loan agreements, amending existing financing arrangements, equity arrangements, debt capital markets transactions, security and security trust arrangements, joint ventures, development finance, complex intragroup arrangements, security charging and stock rationalisation. We also routinely advise on mergers having acted on some of the largest mergers in the sector and can assist with both loan/bond portfolio due diligence, loan refinancing and lender consent work.
- ESG – green, social and sustainable finance
We’re green, social and sustainable finance specialists and can advise on green and social loans or bonds, green private placements and sustainability linked loans. We can provide bespoke training on various aspects of ESG. We can also assist you with putting in place sustainability frameworks and advise on net zero transition plans and ESG/Impact reporting.
- Debt capital markets
Our teams of debt capital markets specialists can provide advice on retail bonds, notes, private placements, bond issues and putting in place and updating EMTN programmes. Our experience allows us to get you to market quickly and efficiently with the minimum of fuss.
- Recent deals
- Advising two G15 RPs on all finance aspects of their merger including obtaining all necessary funder consents to the merger and amending/restating the entire loan/bond portfolio of the group (in excess of £2 billion of funding) to ensure that covenants were harmonised. This involved liaising with treasury advisors, multiple lawyers and over 20 funders.
- Advised a for profit RP on a £50 million social loan financing consisting of innovative development and investment facilities.
- Advised a G15 RP on the issue of £200 million of sustainable secured notes under a private placement to US and UK investors.
- Acting for a G15 client on a new £100m term loan facility with a new entrant to the funding market.
- Advising a G15 client on an unsecured environmental social and governance (ESG) revolving credit facility
- Preparing properties for charging, including for clients who operate a rolling charging programme of putting tranches of properties into the security trust for future allocation.
- The delivery of security charging projects, e.g. the recent charging to support £150m bond taps for a G15 client, with both tranches completed within 5 months of initial instruction.
- Advising on security charging issues, e.g. last week giving a north-west based client free advice on the future chargeability of their proposed MMC programme.
- Advising on title and planning (including s106 agreement) issues, and securing variations within as little as 2 weeks to enable MV-STT uplift.
- Security charging
We advise RPs on the charging (securitisation) of large portfolios of tenanted properties to secure a wide range of funding arrangements, as well as on pre-charging, unallocated charging and rolling charge programmes, value uplifts and strategic charging reviews.
Highly proactive, pragmatic and solutions-focussed, we have a strong track record in property charging and affordable housing finance security dating back to 1989 with the inception of private finance. Clients trust us to deliver their desired outcomes efficiently and smoothly.
Our growing team charges many thousands of properties a year, almost always achieving Market Value Subject to Tenancies (MV-T).
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