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RP raises £80m from two bank lenders
Case studies

RP raises £80m from two bank lenders

Background
  • A mid-sized housing association with a significant development programme, including open market sales, needed new funding
  • Funding was required for committed and unknown development cash flows
  • The borrower had a specific covenant package that had to be met
Our Approach
  • JCRA prepared a detailed information memorandum and term-sheet, then approached over 12 lenders
  • Met with a number of lenders to discuss the organisation and the requested terms
  • Evaluated the responses, negotiated with lenders on financial and non-financial covenants
Benefits
  • Worked with one lender to achieve financial covenants that were counter to their core credit policy
  • Demonstrated value for money through the wider approach to market
  • Outcome on terms and margins that outperformed the business plan
 

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