Cheadle-based specialist lender, Together, has announced the issuance of £450 million in 7 7/8% Senior Secured Notes.
The Notes, due in 2030 have been issued through Together subsidiary, Jerrold FinCo plc, with proceeds to be used to redeem senior secured notes issued in February 2020 and due 2026.
Mike McTighe, Chairman of Together commented:
“We are delighted to announce the successful completion of our £450 million bond offering. The issuance, which supports the refinancing of our 2026 bonds, received strong support from investors, underlining their continued confidence in our long-term growth story.”
The deal follows the successful pricing of a £302 million residential mortgage backed securitisation in January 2024.
Gary Beckett, Group MD and Chief Treasury Officer at Together added:
“Since July 2023 we have raised or refinanced £2.9 billion across seven transactions, as we continue to add depth of funding and maturity to support our lending ambitions. Strong demand from a high quality investor base supported this successful issuance despite a somewhat volatile market backdrop, once again evidencing Together’s strong performance and asset quality.”
Citigroup and HSBC acted as Global Coordinators and Joint Bookrunners for Together with respect to the issuance of the Notes.
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