Together prices £443m securitisation

  • 07/09/2023
  • 0
Together prices £443m securitisation
Specialist lender Together has priced a £443m first-charge only residential mortgage-backed securitisation (RMBS).

The securitisation, named TABS9, is supported by a portfolio of first charge owner-occupied and buy-to-let residential mortgages on properties in England, Wales and Scotland.

It also refinances assets that are part of its £1.25bn Charles Street facility and the group’s senior secured notes.

The facility complements Together’s six public residential and three commercial real estate mortgage-backed securities, six private securitisation facilities, senior secured notes and banking syndicate facility (RCF).

The weighted average cost of placed notes is 1.48 per cent and the advance rate is 94.65 per cent.

In June this year, Together priced its 11th securitisation at £425.5m of first-charge only residential mortgages.

Gerald Grimes (pictured), group CEO designate of Together, said: “We are delighted to announce the successful pricing of our second RMBS this year, which will help us to support more residential owner occupier and buy-to-let customers in realising their ambitions.”

Gary Beckett, group managing director and chief treasury officer at Together, added: “Over the last 12 months we have successfully added almost £1.5bn in funding to support our growth ambitions, highlighting the strength of our business model, quality of our loan book and strong ongoing support from our investors.”

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