Methodist Homes looks to the future with major refinancing deal, advised by KPMG

Methodist Homes looks to the future with major refinanc

Derby-based Methodist Homes (MHA), a charity providing care homes and retirement living for older people and those suffering from dementia, has successfully completed a £70million refinancing exercise

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MHA is one of the UK’s leading charities and has been operating for 70 years. This deal will enable continued focus on its mission to improve quality of life for some 16,000 older people across the UK, living in MHA care homes or retirement apartments, or accessing care services within the community.

The KPMG team, led by Tim Metzgen working alongside Steve Hickman and Sam Andrews, advised the company on its refinancing, leading to MHA negotiating a 10-year non-amortising facility with Barclays.  MHA achieved competitive terms and a strong level of support from Barclays.  This financing has diversified MHA’s debt facilities and enables them to lock in favourable longer term rates.

To ensure the optimal refinancing deal for MHA, KPMG ran a process to test the market with a range of prospective lenders across multiple markets.  Barclays won the deal due to the competitive terms offered, its healthcare sector experience and the team’s understanding of the MHA strategy.  Pinsent Masons gave legal advice to MHA, while DLA Piper acted for Barclays.

Adrian Bagg, Chief Executive at MHA, commented: “We have been delivering on our mission to provide quality of life for older people since 1943, and getting the right finance facility in place, aligned to our 10 year strategy, ensures we can continue to grow MHA to help even more older people than we do already.  In helping us to achieve our goals, it’s important to engage professional support from partners who understand what we’re here to do; both KPMG and Barclays have demonstrated their understanding throughout which has been key to securing a competitive deal for our organisation.”

Tim Metzgen, KPMG, added: “We are delighted to have advised Methodist Homes, a market leader in providing high quality care services to older people. This refinancing deal will enable them to continue with the incredibly important work they do, building on their rich history of support and care to benefit the growing older people demographic.

“KPMG continues to advise a number of clients in the not-for-profit, charity and healthcare sectors on accessing the debt markets, due to the favourable conditions but also the wider range of options available, as experienced by MHA.”



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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff.  The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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