The monthly round-up from the Anthony Collins Solicitors charities team.
We have now completed our first publicly listed bond deal worth £250m on behalf of Walsall Housing Group. The monies raised by Walsall Housing Group will be used to finance the development of an extra 2,000 affordable new homes over 5 years.
Martin Robertson, Finance Director at Walsall Housing Group noted of the team:
“We were very impressed with the professional, thorough approach of the ACS team. As clients we only glimpsed some of what went on as numerous documents were finalised and consents obtained. At all times, the team was calm, effective, concise and courteous - even when under great pressure.”
This transaction follows three other capital markets deals in recent months. In September, we advised Wulvern Housing on its £216m refinancing which included a £35m private placement. In July, we advised on a £25m private placement with Shropshire HG provided by Canada Life (again as part of a wider refinancing) and in June, we advised on the completion of a £40m direct investment over 20 years by L&G into Rooftop HG.
Caroline Dykes, Finance Director of Rooftop HG, said:
“It was a real pleasure working with ACS to arrange new funding for Rooftop through L&G. Natalie Singh was very approachable and professional. She guided us through each step of the process which was something that was important to us as we had not been directly involved in arranging new funding before. Her instructions were very clear, we received regular updates on progress and on what to expect next. We achieved completion by the deadline agreed at the start of the process which was very challenging due to the short timeframe involved.”
Our recent experience reflects the shift in housing association borrowing over the last 18 months with more than 50 per cent of long-term finance now raised on the capital markets.
Click on the link below to see a selection of the transactions we have advised on. This also illustrates some of the clients we have worked for over the past 18 months and provides further details of the Funding and Finance Team at ACS.
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For more information
I would be delighted to meet up with you if you would like to discuss your funding matters. Please contact me on the details below:
0121 212 3718 or email@example.com
In this ebriefing, we identify what we see as the key messages arising from recent prosecutions in the care and housing sectors.
A recent High Court case on costs could prove essential reading for clients who have cases in the magistrates' courts.
The employment and pensions team offer practical advice on whistleblowing.
Partners, David Alcock and Sarah Patrice, have been involved in reviewing the new Code of Governance for community-led housing, published on 21 May 2021 by the Confederation for Coop Housing.
Following the eviction ban being lifted on 31 May 2021 and further to our previous ebriefing, the new notice of seeking possession forms are now available on the Government website as Word versions.
The European Court of Justice's standpoint on the Wiener Wohnen landowning developer case, and how the level of influence over the work did not amount to a decisive influence.
The Law Commission's Technical Issues in Charity Law report revealed that many charities struggle with a range of technical issue in the law.
The Law Commission recommended four key changes to the law in respect of mergers and the incorporation of charities which we have detailed in this ebriefing.
Over the last few weeks, we have published individual ebriefings on some of the key changes to be implemented following the Government’s response to the Law Commission’s report.
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