Centrus supports Abri in simplified group restructure to improve financial capacity and resilience

Transaction Overview

Abri is one of the South’s leading housing providers with 80,000 customers across 35,000 homes with plans to build at least 10,000 high quality and sustainable homes in the next decade.

Centrus has worked closely with Abri, building on changes implemented as part of the formation of the group from Radian and Yarlington in 2019, to simplify their group structure. The changes will support efficient working and value for money with the use of the existing balance sheet across the group to support funding going forward.

The new group structure reduces the number of companies in the Abri Group and combines existing loan agreements into fewer entities, enabling Abri to optimise capacity and reduce complexity.

“The changes we’ve made will allow us to consolidate capacity within the group, affording greater ability to build more sustainable homes, invest in our existing homes, and our thriving communities.

The team at Centrus has worked with us throughout this transaction. They provided real commercial insight and helped us make sometimes finely-balanced decisions on structure and terms, as well as supporting through some relatively complex financial close pricing exercises.”

Vimal Gaglani, Director of Treasury and Financial Planning – Abri

“This transaction will help Abri to deliver homes and services for local communities, as well as simplifying the credit story for investors. It was a pleasure working with an experienced and commercial treasury team to deliver this successful outcome.”

Jonathan Clarke, Managing Director – Centrus

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