TradeRisks vehicle set to rival THFC

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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 offering will be ready in months, Mr Jenkins said.

The service ‘provides a competitor [to THFC] and will deliver more efficiencies, including better cost pricing, and will be more flexible than THFC’s approach, which doesn’t change its core covenants [from one issue to another]’, he added.

‘There is strong continued interest from investors for more products from the sector.’