Mortgage and specialist loan provider, Together Financial Services, has successfully priced a new £443m first charge only residential mortgage-backed securitisation (RMBS).
The firm’s Together Asset Backed Securitisation 2023 - 1ST2 PLC RMBS (TABS9) follows the £425.5m securitisation that it announced in June. The latest facility is now also Together’s ninth successful RMBS since 2017.
Together offers auction finance, mortgages, secured loans, personal, and commercial lending services to customers in the UK.
Its TABS9 facility is supported by a portfolio of first charge owner-occupied and buy-to-let residential mortgages, secured against properties in England, Wales and Scotland, and refinances assets forming part of the firm’s AA rated £1.25bn Charles Street facility, as well as its senior secured notes.
Together also suggested the new facility complements its existing six public residential and three commercial real estate MBS, six private securitisation facilities, senior secured notes and banking syndicate facility (RCF).
“We are delighted to announce the successful pricing of our second RMBS this year, which will help us to support more residential owner occupier and buy-to-let customers in realising their ambitions,” said Together’s group CEO designate, Gerald Grimes.
Group managing director and chief treasury officer at Together, Gary Beckett, added: “Over the last 12 months we have successfully added almost £1.5bn 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.”
Lloyds acted as arranger and joint lead manager accompanied by Barclays, MUFG and Wells Fargo as joint lead managers, Together confirmed.
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