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We secure new funding with £275m RMBS

20 September 2017

We have recently announced the successful completion of our debut public RMBS (residential mortgage-backed security) transaction, issuing £275m to support our growth strategy.

The Moody’s and DBRS rated Together Asset Backed Securitisation 1 PLC (“TABS”) will complement our existing private securitisations, senior secured notes and banking syndicate facilities. TABS was 2.5 times oversubscribed in total, receiving very strong interest from a wide range of institutions.

TABS 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 and will refinance assets forming part of our AA rated Charles Street facility, which was established 10 years ago.

Gary Beckett, our group CFO 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, our 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.”


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