Tab secures £300m private securitisation facility

The firm said that both funding partners support its commitment to offer ESG-focused mortgage loans, which prioritise “sustainable and responsible business practices”.

Atalaya Capital Management will strengthen its partnership with Tab by offering mezzanine noted for the facility, which shows its ongoing commitment after a £120m revolving credit facility was closed last year.

Duncan Kreeger, CEO and founder of Tab, said: “Our new funding line marks a monumental moment for Tab. Partnering with an established institution of NatWest’s size is testament to the progress we have made and the confidence in our vision.

“The completion of the private securitisation facility is a strategic move that will significantly enhance our ability to provide more competitive and flexible financing options to our borrowers for both short-term bridging finance and longer term mortgages.”

He continued: “This marks the most recent significant milestone for Tab, following the launch of our commercial mortgage product. The new commercial mortgage product emphasises sustainability and incorporates ESG criteria to promote best practices and incentivise those through ESG Discounts.

“The mortgage product offers borrowers commercial loans from £150,000 to £2,500,000, terms from three to 10 years and a flexible loan to value (LTV) of up to 65 per cent. Borrowers can qualify for discounts of up to 1.25 per cent off a fixed exit fee of 2.5 per cent by satisfying ESG criteria.”

Kreeger added: “The collaboration with Natwest allows us to not only meet the demand for competitive financing solutions but, in relation to the mortgage product, also to contribute to a more sustainable and resilient real estate finance landscape.

“I am particularly excited about the extended partnership with Atalaya Capital Management, solidifying their commitment with mezzanine finance. Given how much we value this relationship, we are really pleased that their continued support demonstrates their confidence in TAB’s growth trajectory. Together with our strong private investor base, we are building a robust foundation for future success.”

“I would also like to thank both the EY team, for arranging and providing support on this transaction, as well as our legal team at Ashurst.”

Brian Moore, principal at Atalaya Capital Management, said that it was “happy to deepen its partnership with Tab through the provision of further finance alongside Natwest”.

He added: “This is a significant step forward in our commitment to Tab, following our £120m revolving credit facility in 2022, consistent with our positive orientation towards Tab’s business model and outlook.”

Daniella Siretz, managing director at Natwest, said: “Natwest is pleased to support Tab both in the bridging space and with its new term mortgage product that encourages ESG-positive behaviour.

“Sustainability is a key focus for Natwest and we look forward to a successful and sustainable partnership with Tab.”