Together’s first inaugural charge, only RMBS receives awards

Together Financial Services Limited has revealed the price of its first first-charge residential mortgage-backed (RMBS) securitization only.

The £ 318million 2021 Asset Backed Securitization – 1ST1 PLC RMBS (TABS 1ST1) was the lender’s fifth successful RMBS since 2017 and the seventh Mortgage Backed Securitization (MBS) overall since 2017.

It was valued at a weighted average cost of 0.73% with an advance rate of 95%.

89% of the notes issued are expected to be rated Aaa (sf) by Moody’s, AAA (sf) by S&P and AAA (sf) by KBRA.

Gerald Grimes (photo), CEO of Together Designated Group, said: “We are delighted to announce the price of our first first-charge-only RMBS. TABS 1ST1 is an exciting new show for Together and will provide significant additional margin to grow our residential loans as we continue to shape our business for an exciting future. “

Gary Beckett, Group Managing Director and Chief Treasury Officer at Together, added: “This is our sixth financing transaction since January and our seventh public MBS since 2017, underscoring the quality and depth of our portfolio of loans and continued support for the story of Together Growth. .

“TABS 1ST1 will further expand our funding platform and raise additional liquidity to support the Group’s future growth ambitions. “

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