The BABS2 facility is made up of a £121.9m “varied pool of certain residential and commercial purpose sub-performing loans previously funded within the senior borrower group”.
The lender said it will continue to service and manage the loans in the facility and will train the customer relationships.
The facility will succeed the BABS facility, which was issued in 2021.
Together said BABS2 complements the firm’s existing 13 public mortgage-backed securitisations, seven private securitisations, senior secured notes and revolving credit facility.
Gary Beckett, group managing director and chief treasury officer at Together, said: “We are delighted to announce the completion of BABS2, which provides additional flexibility to our funding platform.
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“Since the start of the calendar year, we have successfully raised or refinanced £2.5bn across five transactions, as we continue to broaden our funding and raise additional liquidity to support our growth ambitions.”
Together priced a commercial real estate mortgage-backed securitisation at £522.2m earlier this month.
Earlier this year, the lender priced a £276.8m second charge-only residential mortgage-backed securitisation and split its CABS facility into a duo of warehouse facilities worth £1.59bn.
Together reported a net loan book growth of £7.7bn in 2024, which is 13% up on the prior year.
