Together Financial Services has completed a £200 million private warehouse securitisation as the specialist lender continues to expand and diversify its funding base.
The new Genesis Asset-Backed Securitisation, known as GABS, is a revolving facility that will run until December 2029. It is backed by a diversified pool of bridging and term mortgage loans secured against residential, mixed-use and commercial property across the UK.
The transaction adds further depth to the group’s funding platform and extends the maturity profile of its capital structure.
It follows a period of intensive activity in wholesale markets for the Manchester-based lender, which has raised or refinanced more than £3.6 billion across nine transactions so far this year.
Together said the latest securitisation would provide ongoing funding capacity to support new lending in England, Wales and Scotland as it continues to target growth across its specialist markets.
LONG-TERM SUPPORT
Gary Beckett, Together group managing director and chief treasury officer, said: “The completion of another successful funding transaction this calendar year underscores the continued strength of Together’s business and the long-term support of our funding partners.
“This new facility enhances our liquidity position and strengthens the maturity profile of our funding structure, enabling Together to further support customers in achieving their property ambitions.”
