REG - Lendinvest PLC LendInvest PLC-LINV - Announcement of Securitisation Settlement

LendinvestAnnouncement

30/11/2023 07:00

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RNS Number : 1191V  Lendinvest PLC  30 November 2023

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LEI: 213800NWMK3O4UWP9N91

30 November 2023

LendInvest plc

LendInvest completes fifth and largest securitisation of £410 million of UK
prime BTL mortgage loans

LendInvest plc (LSE: LINV, "LendInvest"), a leading platform for mortgages and
the ultimate holding company of LendInvest BTL Limited, today announces that
LendInvest BTL Limited has completed the group's fifth and largest
securitisation of £410 million of UK prime Buy-to-Let mortgage loans in an
oversubscribed Residential Mortgage Backed Security (RMBS) transaction,
"Mortimer BTL 2023-1".

The securitisation, which comprised £410 million of UK prime BTL mortgage
loans, received an Aaa(sf) and AAA(sf) rating (for 89.5% of the pool) from
global credit rating agencies Fitch and S&P Global Ratings respectively.
The senior tranche was priced at 1.17% over SONIA*.

 

The securitisation received the tightest pricing on a BTL RMBS transaction in
the last six months, with proceeds used to power LendInvest's Buy-to-Let and
Residential products.

National Australia Bank and Lloyds acted as Joint Arrangers. Barclays, Citi,
HSBC, Lloyds, National Australia Bank Limited, Wells Fargo Securities acted as
Joint Lead Managers.

The transaction increases LendInvest's total Funds under Management (FuM) to
£4.2 billion. The business has now lent more than £6 billion of property
finance to UK borrowers since 2008.

 

Rod Lockhart, Chief Executive Officer of LendInvest, said: "I am delighted to
announce the completion of this transaction, which is our fifth and largest
securitisation since we started our RMBS programme in 2019.

 

"This achievement is particularly significant in the current market, and it
demonstrates the continued attractiveness of this asset class."

 

Miray Muminoglu, Head of Securitised Products Group and FIG DCM at Lloyds,
said: "Having put in place the warehouse facility back in September 2022, we
are very pleased to have assisted LendInvest to come to the market with this
highly successful RMBS transaction."

 

Rahni Soliman, Global Head of Capital Markets Originations at National
Australia Bank Limited, said: "National Australia Bank was pleased to act as
Co-Arranger and Joint Lead Manager on the latest Mortimer 2023-1 term
transaction, this being the largest transaction for the Mortimer shelf to
date, and a very successful return to the RMBS market."

 

--Ends--

 

Note to Editors

* SONIA: Sterling Overnight Index Average

 

Enquiries:

LendInvest via
Teneo
+44 (0)20 7353 4200

Rod Lockhart, Chief Executive Officer
 

David Broadbent, Chief Financial Officer

Hugo Davies, Chief Capital Officer

Leigh Rimmer, Head of
Communications

investorrelations@lendinvest.com

 

Panmure Gordon (NOMAD and Joint
Broker)
                                +44 (0)20 7886
2500

Atholl Tweedie

David Watkins

 

Cavendish (Joint Broker)
 
 
                                +44 (0)20 7220
0500

Jonny Franklin-Adams

Tim Redfern

 

Teneo (Financial PR)
                                                                                                  +44
(0)20 7353 4200

Tom Murray

Ed Cropley

Olivia Lucas

 

 

Important Notices

The information contained in this announcement is for information purposes
only.  This announcement has been prepared in accordance with English law,
the UK Market Abuse Regulation and the AIM Rules for Companies and information
disclosed may not be the same as that which would have been prepared in
accordance with the laws of jurisdictions outside England.

Subject to the requirements of the UK Market Abuse Regulation and the AIM
Rules for Companies, the delivery of this announcement shall not create any
implication that there has been no change in the affairs of LendInvest or any
group company since the date of this announcement or that the information in
this announcement is correct as at any time subsequent to its date.

Certain statements in this announcement are forward-looking statements. In
some cases, these forward looking statements can be identified by the use of
forward looking terminology including the terms "anticipate", "believe",
"intend", "estimate", "expect", "may", "will", "seek", "continue", "aim",
"target", "projected", "plan", "goal", "achieve" and words of similar meaning
or in each case, their negative, or other variations or comparable
terminology. Forward-looking statements are based on '''current expectations
and assumptions and are subject to a number of known and unknown risks,
uncertainties and other important factors that could cause results or events
to differ materially from what is expressed or implied by those statements.
Many factors may cause actual results, performance or achievements of
LendInvest to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements. Important
factors that could cause actual results, performance or achievements of
LendInvest and members of its group to differ materially from the expectations
of LendInvest, include, among other things, general business and economic
conditions globally, industry trends, competition, changes in government and
changes in regulation and policy, changes in its business strategy, political
and economic uncertainty and other factors. As such, undue reliance should not
be placed on forward-looking statements. Any forward-looking statement is
based on information available to LendInvest as of the date of the statement.
All written or oral forward-looking statements attributable to LendInvest are
qualified by this caution. Other than in accordance with legal and regulatory
obligations, LendInvest undertakes no obligation to publicly update or revise
any forward-looking statement, whether as a result of new information, future
events or otherwise. Nothing in this announcement should be regarded as a
profit forecast.

 

 

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