North East housing firm Bernicia has boosted its financial strength by securing better terms on two loans totalling £60m.
The social landlord has renegotiated terms of its specialist business loans, which Bernicia says means it can free up more finance to continue to support tenants and communities during the cost of living crisis. Bernicia worked with corporate financial advisors Centrus to secure the new revolving credit facilities.
Janette Longstaff, Bernicia executive director finance, said: “We are delighted to have worked with Centrus on the arrangement of two new RCF facilities. The improved commercial terms have allowed onerous covenants to be removed, thereby further strengthening Bernicia’s financial position.
