Together successfully prices second RMBS of the year

Cheadle-based specialist property lender, Together, has announced the successful pricing of its £367 million 1st charge only residential mortgage backed securitisation (RMBS), TABS 14.

TABS14 is supported by a portfolio of 1st charge owner occupied and buy-to-let loans secured against residential property in England, Scotland and Wales and refinances assets forming part of the Group’s £1.2 billion Kingsway facility (“KABS”) and the Group’s senior secured notes. 90.0% of issued notes expected to be rated AAA(sf) by S&P and AAA(sf) by Fitch.

Richard Rowntree, Group CEO of Together commented:

“The successful pricing of TABS14 is another meaningful step on our journey to giving people a fair chance to turn their home ownership ambitions into reality.”

Gary Beckett, Group MD and Chief Treasury Officer at Together, added:

“Since July 2024, we have successfully raised or refinanced over £5 billion across ten transactions. The successful pricing of TABS14 reflects the high quality of our loan book, the strength of our business model and the continued confidence and support from our investors.”

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 (RCF).

Lloyds acted as Arrangers and Joint Lead Managers accompanied by Lloyds, MUFG, Natixis, Natwest, SMBC and Wells Fargo as Joint Lead Managers.