The amount of the bond issuance was increased from £100m to £120m following significant investor demand.
The notes, which are due to be repaid in 2026, are in addition to the issuance of £435m of senior secured notes completed in February 2020.
Money raised through Together’s latest round of capital raising is expected to be used for general corporate purposes, to repay amounts outstanding under the revolving credit facility and to pay fees and expenses in connection with the latest offering.
Gerald Grimes, chief executive designate of Together, said: “We are delighted with the success of this £120m further issuance, which is a testament to the attractiveness of our 47-year track record, proven business model and financial strength. The issuance, which was upsized by £20m on the back of strong investor support, provides additional headroom as we continue to shape our business for an exciting future.”
Gary Beckett, group managing director and chief treasury officer at Together, said: “Alongside our established securitisations and residential and commercial real estate MBS programmes, our bonds are an important cornerstone of our financing. This bond tap is our seventh successful funding transaction since January, underlining the quality of our loan book and the continued investor support for the Together growth story.”
