"The success of this transaction affirms our financial strength and will allow us to offer new products to our customers"
The Moody’s and DBRS rated Together Asset Backed Securitisation 1 PLC (“TABS”) will complement Together’s existing private securitisations, senior secured notes and banking syndicate facilities.
TABS was 2.5 times oversubscribed in total and is supported by a portfolio of first and second charge owner-occupied and buy-to-let residential mortgages, secured against property in England, Wales and Scotland.
It will refinance assets forming part of the Together’s AA rated Charles Street facility, which was established 10 years ago.
Together’s group CFO, Gary Beckett, said: “Together continues to go from strength to strength. This facility will further increase the depth and diversity of our funding structure to support the business on its exciting growth journey.”
Marc Goldberg, commercial CEO, added: “Having traded successfully for 43 years, we have a proven track record and a robust business model. The success of this transaction affirms our financial strength and will allow us to offer new products to our customers, putting us in a great position to move forward with our ambitious plans.”
