Together has completed what it describes as its first small balance commercial mortgage backed securitisation.
The £200m Together Asset Backed Securitisation. 2021 – CRE1 plc is supported by a portfolio of first and second charge mortgages secured against small value commercial, residential and mixed use properties in England, Wales and Scotland.
Gerald Grimes (pictured), Together’s group CEO designate, said: “We are delighted to announce the successful completion of our £200 million small balance commercial real estate mortgage backed securitisation (MBS).
“The issuance adds further headroom as we continue to support UK businesses and shape our business for an exciting future.”
Marc Goldberg, commercial CEO at Together, added: “This is our third successful public transaction since the pandemic began, following our £500 million bond issuance in January and our £366 million residential mortgage backed securitisation in July.”