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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.

Project leads

Chris Evans

Director

“Newbridge were able to deliver the Limited Assurance opinion on our sustainability performance for Financial Year 2022/23, linked to our syndicated revolving credit facility. Their requirements were clear from the point of engagement and they delivered to our timetable. Newbridge are a partner we will be working with again.”

Baljit Singh, Head of Treasury, Places for People

Insights

Newbridge’s Partner for Regeneration and Development, will be co-chairing a panel at UKREiiF in Leeds to explore what has been accomplished so far at Meridian Water in Enfield.

Newbridge’s Regeneration and Development Team is advising Enfield Council on the procurement of a development partner to deliver up to 600 new homes at Meridian 13.

Newbridge chaired a roundtable between housing associations and three leading funders to explore the potential positive impact of SLLs in the social housing sector.