Specialist lender Together has completed a £200m seven-year bond issuance, to support continuing growth.
The new £200m bond will increase the Group’s funding capacity to offer new loans in line with growing customer demand for its products, and comes just four months after Together successfully launched a separate £375m bond in October 2016, demonstrating continued interest from investors.
These two bonds will sit alongside Together’s asset-backed securitisation programmes and other current funding facilities, to provide a diverse and stable funding platform for sustained growth.
Mike McTighe, group chairman at Together, commented: “We are delighted to have successfully issued this £200m bond on such favourable terms, so soon after completing our landmark £375m issuance last year. This investment is testament to the strength of our business and financial position, while demonstrating continued investor appetite and support for Together’s ambitious growth plans.”
Founded in 1974, Together provides finance to niche markets through an extensive distribution network, offering short-term finance, auction finance, residential, commercial and buy-to-let mortgages, and secured loans.
Gary Beckett, group chief financial officer at Together, added: “This new bond will provide additional funding across our business, allowing us to meet the continued demand for our products and serve our growing customer base. With its seven-year term, this bond provides long-term liquidity to help deliver our growth strategy.”
Recent accolades for Together include: Best Buy-to-Let Product Range, Best Near-Prime Product Range, Best Bridging Lender, Bridging Lender of the Year, Large Company Management Team of the Year (North West), The Sunday Times Grant Thornton Top Track 250, Best Service from a Bridging Finance Provider, Best for Auction Financing, Alternative Finance Provider of the Year and Best Secured Loan Provider.
Together Financial Services, previously Jerrold Holdings Limited, is the parent company of both Together Commercial Finance and Together Personal Finance, and offers a range of products under the trading name of Together.