Together prices first-charge RMBS at £318m

  • 09/09/2021
  • 0
Together prices first-charge RMBS at £318m
Together has priced a first charge residential mortgage-backed securitisation (RMBS) at £318m, its fifth RMBS since 2017.


The RMBS is priced at a weighted average cost of 0.73 per cent with a 95 per cent advance rate. Together said that 89 per cent of the issued notes would be rated Aaa by Moody’s, AAA by S&P and AAA by KBRA.

BNPP was the arranger and joint lead manager for the securitisation, with Lloyds Bank Corporate Markets and NatWest Markets also acting as joint lead managers.

According to Together, this securitisation is supported by a portfolio of first lien owner-occupied and buy-to-let residential mortgages, and forms part of Together’s £1.25bn Charles Street Facility.

Gerald Grimes, group chief executive officer designate at Together, said that the securitisation would provide “significant additional headroom” to increase its residential lending.

Gary Beckett, group managing director and chief treasury officer at Together,  added that the deal would broaden its funding platform and raise additional liquidity to support the group’s future growth ambitions.

He noted that the deal was its sixth funding transaction since January, and seventh public mortgage-backed securitisation since 2017.

Together has raised or refinanced over £1.9bn of debt facilities since the start of 2021 to support its lending.

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