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Together raises £150m further funding

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  • 31/01/2018
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Together raises £150m further funding
Specialist lender Together has obtained a further increase in its funding – issuing £150m in senior secured notes.

Together said the increased funding affirmed its financial strength as it continued with ambitious growth plans across commercial and personal finance businesses.

It lent almost £1.2bn in the year to 30 June 2017 and has a current loan book of more than £2.37bn.

In the past year the lender has widened its distribution across mainland UK and expanded its product offering.

“We’re delighted with this £150m increase in funding which will enable us to continue with our expansion,” said Together personal finance CEO Pete Ball.

Commercial CEO Marc Goldberg (pictured) added: “Having been providing finance for 44 years, we’re established as leaders in the specialist lending market, but we have big plans for continued growth.

“This additional funding will enable us to support more customers and is a testament to the strength of our successful business model.”

Together has already completed several securitisations and noted that along with its first residential mortgage-backed security, bonds were an important cornerstone of financing the continued growth of our loan book.

“This bond tap offers increased liquidity to an already successful issue and adds further depth and diversity to our funding structure,” it added.

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