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RNS Number : 9037J Together Financial Services Limited 16 December 2022
Together Financial Services Limited
16 December 2022
Together Financial Services Limited
Together launches Fairway Asset Backed Securitisation
16 December 2022
Together Financial Services Limited ("Together" or the "Group"), one of the
UK's leading non-bank relationship lenders, is pleased to announce the launch
of its new £467.4 million, Fairway Asset Backed Securitisation 1 Limited
("FABS") facility.
Highlights
· Inaugural £467.4 million warehouse facility for first charge owner
occupied and buy-to-let loans secured against residential property in England,
Scotland and Wales
· Closely aligned to Group's residential mortgage backed securitisation
("RMBS") programme, providing additional funds to support property investors
and home owners
· Facility matures in 2026
Gerald Grimes, Group CEO Designate of Together commented: "We are excited to
announce the successful launch of our FABS securitisation warehouse. This new
facility will provide additional funding to help our residential owner
occupier and buy-to-let customers realise their ambitions in the current
challenging economic environment."
Gary Beckett, Group Managing Director and Chief Treasury Officer of Together,
added: "The launch of our FABS facility provides further depth to our funding
profile and continues to underline the strength and resilience of Together's
business model. As part of this facility, we are pleased to welcome a new
funding partner to the Group and I would like to thank all of our banks and
investors for their continued support."
Over the past 12 months, Together has raised or refinanced around £4.3bn of
facilities across nine transactions, including private and public
securitisations as we continue to diversify and extend our funding profile to
support our growth ambitions. Together recently announced its results for the
quarter to 30 September 2022, showing loan book growth to £5.7bn, average
monthly originations to £289.7m and underlying profit before tax for the
quarter of £34.7m. In October, credit rating agency S&P upgraded Together
and the Group's Senior Secured Notes to 'BB' (previously 'BB-').
For further enquires please contact:
Together
Mike Davies, Director of Corporate Affairs + 44 7753 138185
mike.davies@togethermoney.com (mailto:mike.davies@togethermoney.com)
Camarco (Financial PR)
Ben Woodford
+44 2037818333
ben.woodford@camarco.co.uk (mailto:ben.woodford@camarco.co.uk)
Eddie Livingston-Learmouth
+44 2037574993
Edward.Livingstone-Learmonth@camarco.co.uk
(mailto:Edward.Livingstone-Learmonth@camarco.co.uk)
About Together
Established in 1974, Together has been bringing common sense to the UK
specialist lending market for nearly 50 years. Our expertise in lending means
we can look beyond mainstream lending criteria to take an individual view of
customers' needs and treat each application on its own merits.
We offer a wide range of specifically designed products, including short-term
finance, auction finance, residential, buy-to-let and commercial mortgages and
secured loans through our established distribution network.
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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