Together Money has completed a commercial real estate mortgage backed securitisation worth £249m.
It is comprised of a portfolio of first and second charge mortgages secured against small value commercial, residential and mixed use properties in England, Wales and Scotland with 40 per cent
of the underlying borrowers being self-employed. More than 79 per cent of the issued notes were rated AAA.
Citibank acted as sole arranger and sole lead manager.
Gerald Grimes, group chief executive designate of Together, said: “We are delighted to announce the successful completion of our second small balance commercial real estate MBS, just three months after we issued the UK’s first transaction of this kind since the global financial crisis.
“The £249m CRE2 facility provides additional resource as we continue to extend our support to UK businesses.”
Gary Beckett, group managing director and chief treasury officer at Together, added: “This is our fourth successful public transaction since the commencement of the pandemic, as we continue to add further strength and diversity to our funding platform.
“We would like to thank our funding partners who continue to show strong support for the Together growth story.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
