Cheadle-based specialist lender, Together, has announced the successful pricing of a £302 million residential mortgage backed securitisation.
The latest pricing of the 2nd charge only securitisation is the first for the non-bank lender of 2024 and fourth of Together’s current financial year. The Together Asset Backed Securitisation 2024 – 2ND1 PLC is supported by a portfolio of 2nd charge owner-occupied and buy-to-let residential mortgages, secured against properties in England, Wales and Scotland, and refinances assets forming part of the Group’s AA rated £1.25 billion Charles Street facility.
The new facility complements the Group’s existing seven public residential and four commercial real estate MBS, six private securitisation facilities, senior secured notes and banking syndicate facility.
Gerald Grimes, Group CEO Designate of Together commented:
“We are delighted to announce the successful pricing of our first RMBS of 2024, TABS10. This will be our fourth mortgage backed securitisation issuance of the current financial year and will help us to support more residential owner occupier and buy-to-let customers in realising their ambitions.”
Gary Beckett, Group Managing Director and Chief Treasury Officer at Together, added:
“Since the start of our financial year in July, we have successfully raised or refinanced over £2.3 billion in funding to support our growth ambitions, highlighting the strength of our business model, quality of our loan book and strong ongoing support from our investors.”
Citi and BNPP acted as Co-arrangers and Joint Lead Managers accompanied by HSBC and NatWest
as Joint Lead Managers.
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