Together Financial Services Expands Lakeside Securitisation Facility to £1 Billion

November 13, 2024 05:23 AM PST | By Team Kalkine Media

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Together Financial Services Expands Lakeside Securitisation Facility to £1 Billion — Image source: shutterstock

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Highlights

Lakeside securitisation upsized from £825 million to £1 billion.

Facility maturity extended to November 2028.

Improved commercial terms and new banking partner added.

Together Financial Services Limited (“Together”), a prominent non-bank lender in the UK, has announced a significant expansion of its Lakeside securitisation programme (“LABS”), increasing the facility’s size from £825 million to £1 billion. This growth in the LABS facility not only boosts Together’s capacity for lending but also extends the facility’s maturity to November 2028, with improved commercial terms and the inclusion of a new bank partner in the facility.

The LABS programme, first launched in 2015 with a starting size of £255 million, has seen consistent growth over the years, reflecting Together’s steady expansion. After multiple increases to £500 million in 2019, £700 million in 2022, and £825 million in 2023, the latest upsizing further strengthens Together’s funding base, supporting both regulated and unregulated bridging lending across the UK.

Together’s funding strategy remains robust and diverse, with the Group managing twelve public and six private securitisation facilities, in addition to two series of senior secured notes and a revolving credit facility. In 2024 alone, Together has raised or refinanced over £3.3 billion through seven transactions, underscoring its financial resilience and commitment to growth in the non-bank lending sector.

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