Insights

The Autumn Budget's £40 billion in tax hikes, gilt yield fluctuations, Bank of England rate cut expectations, and more in today's fortnightly.

Chatham sets out its business plan assumptions for Q3 2024.

Chatham expects an increase in housing association capital markets issuance through the end of 2024 and the beginning of 2025, as smaller issuers may benefit from tighter pricing and lighter covenants in the public market despite current trends favoring larger bond issues.

The Bank of England's (BoE) rate cut, lower sterling rates, transactions from LiveWest and Eastlight Community Homes, and more in today's fortnightly.

Severn Trent's successful £350M bond issuance, the current dynamics of the sterling rates market, the implications of recent economic indicators on inflation and interest rate hedging strategies, and more in today's fortnightly.

Investor relations improvements, capital markets issuance trends, latest movements in sterling rates, and more in today's fortnightly.

With rising capital costs, effective investor relations are crucial for housing associations (HA) to maintain investor confidence and access to funding. HAs should continue to adopt best practices to remain competitive and prepared for future market demands.

Hedge accounting is a key component when trading interest rate swaps with off-market derivatives. End users must navigate the complexities of hedge accounting to optimise the success of their hedging relationships. This white paper provides guidance as to how to identify an off-market hedge and...

The Bank of England (BoE) kept rates on hold at 5.25% as expected, with few changes to its statement and no press conference due to election campaign restrictions. The Monetary Policy Committee (MPC) vote remained unchanged, with seven members voting to keep rates on hold and two members voting...

Matt Henry, Chatham's Managing Partner and CEO, and Suzy Welch, Professor of Management Practice, NYU Stern School of Business, discuss misunderstandings of authenticity, generational differences, the evolving workplace culture, and more.

Places for People (PfP) increased their 2055 issue by £95M, the European Central Bank (ECB) cut rates by 25 bps, gilt and SONIA swap rates decreased by 20 bps, and more in today's fortnightly.

Off-market hedge accounting is common but complex. Getting it wrong can result in misstated earnings, and, if unaddressed, the size of the error can accumulate over time. This primer explains what an ‘off-market hedge’ is and illustrates how to correctly apply hedge accounting to such hedges.

April inflation figures showed a notable decline, CPI dropping, social housing financing strategies, and more in today's fortnightly.

Economic indicators showing improvement, potential interest rate cuts by the Bank of England (BoE), housing association (HA) strain due to high rates and rent caps, and more in today's fortnightly.

As expected today, the Bank of England (BoE) held interest rates at 5.25% but signaled that they may cut rates at their next meeting in June, stating that they will be watching April's and May’s economic data closely. In a further sign that the Bank is edging closer to the first rate cut in over...

Navigating amidst economic uncertainties, managing rent inflation, changing approaches to new financing, and more in today’s fortnightly.

Associations cautious amidst fluctuating rates, strong investor demand, economic indicators mixed, and more in today's fortnightly.

Rent settlement until April 2026, rising gilt yields, SONIA swap curve fluctuations, and more in today's fortnightly.

Housing associations embrace EBITDA-only interest cover ratios for enhanced financial flexibility, paving the way for covenant relief and optimised debt management.

As expected today, the Bank of England (BoE) kept the bank rate on hold at 5.25%, but it may be a sign that the Committee is edging closer to cutting rates as two members who previously voted to hike rates, voted to keep them on hold. Similar to their February meeting, there is still one member...

Following a change in management in 2020, Chatham assisted Yorkshire in restructuring their debt portfolio by simplifying covenants, improving the average life and maturity of the debt, reducing their borrowing costs, and expanding capacity to support development. This has involved raising and...

A case study of how Chatham advised PA Housing on its first sustainable bond issue, developing a sustainable finance framework and targeting ESG investors.

A case study of how Chatham advised Two Rivers on its refinancing, including a debut £80M private placement.

A case study of how Chatham advised RHP on its £35M fundraise to pay existing debt and create resources for the development of new housing units.