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Together completes £120m notes issuance

Together Financial Services Limited completed the issuance of an additional £120m in senior secured notes due 2026 through its wholly-owned subsidiary Jerrold FinCo plc.

Following significant demand, the amount of the offering was increased from £100m to £120m.

The proceeds of the offering are expected to be used for general corporate purposes,  to repay amounts outstanding under the Revolving Credit Facility and to pay fees and expenses in connection with the offering.

Gerald Grimes, CEO designate of Together, said: “We are delighted with the success of this £120m further issuance, which is a testament to the attractiveness of our 47 year track record, proven business model and financial strength.

“The issuance, which was upsized by £20m on the back of strong investor support, provides additional headroom as we continue to shape our business for an exciting future.”

Gary Beckett, group managing director and chief treasury officer at Together, added: “Alongside our established securitisations and residential and commercial real estate MBS programmes, our bonds are an important cornerstone of our financing.

“This bond tap is our seventh successful funding transaction since January, underlining the quality of our loan book and the continued investor support for the Together growth story.”

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