News & Announcements
04 Oct 2009
Sovereign issues £175m bond at lowest price for five years
Sovereign Housing Group has completed a £175 million bond issue. The issue was priced at 155 basis points over gilts, at an all-price of 5.705 per cent – the lowest since 2004, according to TradeRisks managing director Phil Jenkins. TradeRisks acted as sole Bond Arranger for the issue. The margin was the lowest since Affinity
28 Sep 2009
TradeRisks vehicle set to rival THFC
Sector adviser TradeRisks is to compete with established issuer the Housing Finance Corporation by launching a new group capital markets vehicle. TradeRisks managing director Phil Jenkins said the service would be targeted at RSLs which were not large enough to undertake individual issuance – in particular, mature medium-sized stock transfers and traditional RSLs. An initial
04 Sep 2009
TradeRisks sets new capital markets benchmark with £175m deal for Sovereign Housing Group
TradeRisks, the investment banking boutique, today announces the successful launch of a £175m debut 30 year bond issue for Sovereign Housing Group, one of the UK’s leading affordable housing providers. Phil Jenkins, Managing Director at TradeRisks commented: “This deal stands out because the all-in yield and the issue margin were significantly tighter than any deal
17 Jul 2009
RSLs execute joint swap to bypass lenders
Removal of Supporting People ring-fence ‘poses serious threat’ to small providers. The Supporting People programme’s forthcoming merger into local authorities’ general care & support funds poses a threat to many service providers, two experts have warned. Domini Gunn-Peim, the Audit Commission’s national lead for vulnerable communities, told delegates at the CIH conference that attempts to
23 May 2009
Jenkins leaves Royal Bank of Canada and steps into leading role at TradeRisks
Jenkins leaves Royal Bank of Canada and steps into leading role at TradeRisks. Phil Jenkins has been appointed as managing director od financial consultancy firm TradeRisks after leaving Royal Bank of Canada. Mr Jenkins, who had worked for RBC for the past 11 years, is one of the biggest lending figures in the sector. He
28 Apr 2009
Warning over push towards short term funds
Whitehall rent cap cut widens tenants’ divide and poses business plan problem for transfers. Young stock transfer associations are facing budget shortfalls which could delay improvement works after Whitefall halved its cap on councils’ 2009/10 rent increases. The Department for Communities & Local Government has approved but is not funding a reduction in councils’ maximum
