Paragon is to launch a new securitisation.

The Paragon Group of Companies has instructed three lead managers, Lloyds Bank Corporate Markets, Macquarie Bank Limited, London branch and Morgan Stanley, to launch its next securitisation.

The final terms of the securitisation will be determined following the usual discussions between the lead managers and investors but it is currently expected that the issue size will be approximately £150 million and that pricing will be at around 275 basis points over three month LIBOR.

This securitisation will support Paragon’s ongoing new lending programme.