TradeRisks, a specialist provider of debt structuring and advisory services to the infrastructure sector and part of Gresham House plc, has secured a GBP100 million private placement for Apex Housing Association (Apex), one of the leading housing associations in Northern Ireland.
Apex will use the funds, provided by specialist insurer of defined benefit pension funds, Pension Insurance Corporation (PIC), to refinance short-term debt facilities and to develop approximately 1,500 new high-quality affordable homes across Northern Ireland. The homes will include additional energy-efficiency features, such as solar panels, to ensure high environmental standards.
The notes were priced at a competitive spread over the benchmark gilts and include 12 and 24-month deferred tranches. TradeRisks acted as sole advisor and arranger to Apex for the private placement.
TradeRisks has arranged or negotiated more than GBP20 billion of funding over the past 20 years. Following its acquisition in March 2020, it has become part of the Gresham House Group.
