RCS - Together Fin. Svc. - Together successfully prices first RMBS of 2025

BNP Paribas SAAnnouncement

06/02/2025 08:15

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RNS Number : 0867W  Together Financial Services Limited  06 February 2025

Together Fin. Svc.

Together successfully prices first RMBS of 2025

Together Financial Services Limited

6(th) February 2025

Together successfully prices first RMBS of 2025

6(th) February 2025

Together Financial Services Limited ("Together" or the "Group"), one of the
UK's leading non-bank relationship lenders, announces the successful pricing
of its £276.8 million 2(nd) charge only residential mortgage backed
securitisation ("RMBS"), Together Asset Backed Securitisation 2025 - 2ND1 PLC
("TABS13").

Highlights

·    £276.8m 2(nd) charge only RMBS

·    1.20% weighted average cost of placed notes

o  93.1% advance rate

·    72.0% of issued notes expected to be rated AAA(sf) by S&P and
AAA(sf) by DBRS

TABS13 is supported by a portfolio of 2(nd) charge owner occupied and
buy-to-let loans secured against residential property in England, Scotland and
Wales. It refinances assets forming part of the Group's £387 million Wilmslow
ABS facility and the Group's senior secured notes. The new facility
complements the Group's existing nine public residential and four commercial
real estate MBS, seven private securitisation facilities, senior secured notes
and banking syndicate facility (RCF).

Gary Beckett, Group MD and Chief Treasury Officer at Together, commented: "We
are delighted to announce the successful pricing of our first public RMBS this
year as we continue to support more residential owner occupier and buy-to-let
customers in realising their ambitions. Since the start of this calendar year,
we have already successfully raised or refinanced over £1.87 billion across
three transactions, as we continue to strengthen and diversify our funding
programme to support our future growth strategy."

BNP Paribas acted as Arrangers and Joint Lead Managers accompanied by HSBC,
Santander and Wells Fargo as Joint Lead Managers.

For further enquires please contact:

Together

 Mike Davies, Director of Corporate Affairs  + 44 7753 138185

                                             mike.davies@togethermoney.com
 Abena Affum, Corporate Affairs Manager      +44 7542 862956

                                             abena.affum@togethermoney.com
 Camarco (Financial PR)

 Ben Woodford

                                             +44 2037818333

                                             ben.woodford@camarco.co.uk (mailto:ben.woodford@camarco.co.uk)

 Eddie Livingstone-Learmonth

                                             +44 2037574993

                                             Edward.Livingstone-Learmonth@camarco.co.uk
                                             (mailto:Edward.Livingstone-Learmonth@camarco.co.uk)

Together is the trading name of Together Financial Services Limited, which has
its registered office address at Lake View, Lakeside, Cheadle, Cheshire SK8
3GW.

Ends

Further information about TABS13

TABS13 is a special purpose securitisation vehicle which will acquire the
beneficial ownership to a portfolio of mortgage loans secured against
residential properties in England, Wales and Scotland on the closing date. The
notes issued by TABS13 will mature on the interest payment date falling in
September 2056, with the optional redemption date on the interest payment date
falling in January 2029, after which the margin on the rated notes (other than
the class X note) issued by TABS13 is set to increase. The mortgage loans will
be sold to TABS13 by Together Personal Finance Limited and Together Commercial
Finance Limited (as applicable). Certain of those mortgage loans will be
repurchased by Together Personal Finance Limited and Together Commercial
Finance Limited from the Wilmslow ABS facility prior to being on-sold to
TABS13 on the closing day. The outstanding principal balance of the mortgage
loans sold to TABS13 is £276.8 million.

About Together

One of the UK's leading non-bank relationship lenders, Together has been
making finance work to help our customers realise their ambitions for over 50
years.

A strong, diverse and financially inclusive lender, we support a wide range of
underserved customers including the self-employed, those with more complex
incomes, in later life or with thin or impaired credit, landlords and SME and
business customers. We offer our customers a wide range of flexible lending
products including short term finance, auction finance, residential,
buy-to-let and commercial mortgages, secured loans and development finance.

Our expertise in lending means we can look beyond mainstream lending criteria
to consider individual circumstances and treat each application on its own
merits to help our customers solve problems and realise opportunities.

Together is the trading name of Together Financial Services Limited, which has
its registered office address at Lake View, Lakeside, Cheadle, Cheshire SK8
3GW.

 

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