Together completes £275m securitisation

Ryan Bembridge

September 25, 2017

Together has completed a residential mortgage-backed securitisation of £275m to support further growth.

The securitisation, rated by Moody’s and DBRS, was 2.5 times oversubscribed.

Gary Beckett, Together’s group chief financial officer, said: “This facility will further increase the depth and diversity of our funding structure to support the business on its exciting growth journey.”

The securitisation was formed from a portfolio of first and second charge owner-occupied and buy-to-let residential mortgages in England, Wales and Scotland.

Marc Goldberg, commercial chief executive, said: “Having traded successfully for 43 years, we have a proven track record and a robust business model.

“The success of this transaction affirms our financial strength and will allow us to offer new products to our customers, putting us in a great position to move forward with our ambitious plans.”

The arrangers and joint lead managers to the deal were HSBC, Lloyds Bank and Natixis, with Barclays and NatWest Markets as co-managers.

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