Together completes securitisation

Michael Lloyd

October 10, 2019

household finances during pandemic

Together Financial Services has completed its third residential mortgage backed securitisation.

The £332m Together Asset Backed Securitisation has a 95% advance rate and 79% of the issued notes were rated Aaa by Moody’s and AAA by DBRS.

Gary Beckett, group managing director and chief treasury officer of Together, said: “We are delighted to announce the completion of our latest public RMBS, which further increases the scale, diversity, efficiency and maturity of our funding base.

“This is our third successful public RMBS in just over two years and the strong level of demand we received from investors, many of whom had invested in our two previous RMBS transactions, demonstrates the continued attractiveness of the group’s long-term growth story.”

Since Together completed its inaugural public RMBS in September 2017, the group has successfully raised or refinanced £3.7bn of debt facilities to support its lending activities.

Lloyds Bank Corporate Markets acted as arranger and joint lead manager accompanied by BNP Paribas, Natixis and NatWest Markets as joint lead managers on the securitisation.

Sign up to our daily email