Mortgage and specialist loan provider, Together Financial Services, has announced the pricing of its £425.5m first charge only residential mortgage-backed securitisation (RMBS).

The Together Asset Backed Securitisation 2023 – 1ST1 PLC RMBS (TABS8) is the firm’s eighth successful RMBS since 2017.

Over the past 12 months, Together has raised or refinanced over £1.6bn of facilities across four transactions as it continues to diversify and extend its funding profile.

TABS8 is supported by a portfolio of first charge owner-occupied and buy-to-let residential mortgages, secured against properties in England, Wales and Scotland, and refinances assets forming part of the group’s AA rated £1.25bn Charles Street facility and its senior secured notes.

Group CEO designate of Together, Gerald Grimes, commented: “We are delighted to announce the pricing of our TABS8 RMBS which will further support our residential owner occupier and buy-to-let customers in realising their property ambitions.”

Together suggested that TABS8 will complement its existing five public residential and three commercial real estate MBS, six private securitisation facilities, senior secured notes and banking syndicate facility.

It also revealed that the notes issued by the new facility will mature on the interest payment date falling in January 2067, with the optional redemption date on the interest payment date falling in April 2027 – after which the margin on the rated notes, other than the class X note, issued by TABS8 is set to increase.

“TABS8 is our eighth RMBS and our eleventh public securitisation overall since 2017, underlining the quality of our loan book and the ongoing strong support from our funding partners,” added group managing director and chief treasury officer at Together, Gary Beckett.

BNPP acted as arranger and joint lead manager accompanied by Barclays and Natixis as joint lead managers.

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