Racefields partners with Singaporean funder

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Chris Maamoun

Manchester based Racefields, which recently launched its revolutionary debt trading platform, has announced a partnership with a funder based in Singapore.

Through the partnership, any deals listed on the RCX platform that match the investment criteria of the funder will also be listed on the Singaporean platform. UK-based lenders that are keen to refinance their loan books will now have a direct avenue to Asian investors thanks to this partnership.

“This is a very important relationship for Racefields as it boosts liquidity for the RCX platform and will also give us access to investors in the Asian market, not just the UK,” says Chris Maamoun, pictured, managing director of Racefields.

“This won’t be our only strategic partnership; we’re looking to build more with other funders not just in Asia but around the world.”

The Singaporean funder is keen on deals with a first charge and will look to refinance bridging loans with a coupon of 10%.

Racefields continues to seek lenders who are interested in refinancing asset-backed securities. Nearly £6 million worth of bridging loan debt was uploaded to the RCX platform less than two weeks after launch. Investor interest in the product has been high since day one with large American funds and FTSE250 companies registering their interest in the platform early on.