Limited Assurance – Sustainable Performance Targets
On behalf of housing association client Places for People, Newbridge acted as a Sustainability Assurance Provider for annual Sustainability Performance Targets associated with multiple Key Performance Indicators specified in Places for People’s syndicated revolving credit facility.
Benefits to the client
In accordance with the parameters set out in the loan documentation, Places for People are able to benefit from a margin saving to their facility, should Sustainability Performance Targets be hit on an annual bases. An independent Sustainability Assurance Provider is required to provide limited assurance on these targets for the benefit of the lending group. Newbridge can perform such as role.
Newbridge role
Newbridge independently reviewed the data related to three Sustainable Performance Targets declared and reported by Places for People, confirming to the best of knowledge, the information is complete, consistent transparent and free from material error, omission or misstatement. This enabled Places for People to meet its obligations with its funders and, where applicable, benefit from a margin discount.
