PMI Crest
PMI

Penfida

PMI Academy Partner

Penfida provides covenant and related corporate finance advisory services to defined benefit pension scheme trustees and their sponsors

A market leading independent team of highly experienced professionals, we advise schemes of all sizes, across a wide range of industries, often with complex and international sponsor groups.

 

Our services range from regular covenant evaluation, affordability assessment and monitoring to advice in specific situations, such as corporate transactions, restructurings, refinancings, contingent asset arrangements and scheme events.

We assess the strengths and risks inherent in the covenant to help determine the extent to which it can support the scheme, both now and over the longer term. This includes a valuation of the covenant and an analysis of affordability in the context of commitments to all stakeholders.

We have extensive experience of advising in connection with exceptional corporate events, supporting our clients in evaluating and navigating through the complexities of corporate transactions – whether M&A, disposals, refinancing or restructurings - from a technical, financial and regulatory perspective.

Our approach also provides a comprehensive framework for integrated risk management, enabling trustees and sponsors to assess the impact of covenant funding and investment decisions over the life of the scheme.

Insights

FURTHER READING

PMI Crest

You might also like

Knowledge Hub

Accessing future cash flow to understand the journey plan
15 September 2021

Accessing future cash flow to understand the journey plan

Ultimately, future cash flows of the sponsor pay pension contributions. A largely historical approach to covenant assessment, focused on past performance and the balance sheet, can misjudge the level of covenant support available or even misrepresent the risks that a scheme faces. A forward-looking approach is an essential part of a robust covenant assessment framework.

Read more
PMI Academy Covenant Manual
20 August 2021

PMI Academy Covenant Manual

Read PMI Academy partner Penfida’s manual on employer covenant.

Read more
Pensions Aspects June 2021
07 June 2021

Pensions Aspects June 2021

Leading the way. Read the latest issue on the flight path to captivating member engagement.

Read more

Become an Academy Partner

Providing high quality education

Get in touch if you would like to join our mission and provide high quality education for the pensions and financial services sector.

Get in touch
PMI Crest