Centrus supported Home Group to secure £260m new liquidity

What value did Centrus add?

Strategic treasury support and transaction leadership

• Centrus played a central role in supporting Home Group with the successful completion of £260m in new revolving credit facilities and the restructure of £415m of existing facilities. Our engagement began with a comprehensive review and refresh of Home Group’s treasury strategy, culminating in Board approval in November 2024.
• Drawing on our deep sector knowledge and real-time market intelligence, we supported the Executive and Board through a volatile environment — helping them balance risk, cost, and opportunity through a strategy grounded in robust analysis and aligned with long-term goals.
• Following this, Centrus worked closely with Home Group to execute the strategy, providing strategic advice, coordinating lender engagement, and leading negotiations with both existing and new lenders to ensure competitive tension and maximise value.
• The outcome saw facilities increase from three long-standing lenders – Lloyds, HSBC, and Nationwide – and the introduction of a new lender, Barclays.

How did this transaction benefit Home Group?

• This new funding significantly strengthens Home Group’s liquidity position, reinforcing its funding platform ahead of a future return to the capital markets. 
• The new RCFs deliver exceptionally strong commercial terms, with the overall cost of carry on new facilities among the lowest Centrus has seen in recent years.
• Financial covenants were harmonised across facilities, simplifying the position and unlocking additional financial capacity.

“We are very grateful for the support the Centrus team provided as we jointly developed and executed the latest iteration of our treasury strategy. We worked very collaboratively throughout, with the right levels of test and challenge and good humour on both sides which very much built on our existing partnership. Our strong relationships with our lender base and positive credit story together with Centrus’ extensive, current sector knowledge delivered a very positive outcome for us commercially and allowed us to standardise and simplify covenants. We have enjoyed working with the Centrus team on this refinancing and they have delivered significant value and assurance through their insight and engagement.”

Steve Hallowell, Director of Treasury and Investor Relations – Home Group

For more information, please contact Thomas Archer, Director, Housing, Education & Care or Lawrence Gill, Director, Housing, Education & Care.

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