Alantra has advised Together Financial Services Limited on the launch of Brooks Asset Backed Securitisation 1 Limited (“BABS”)

Jul 2021

Securitisation - Sole arranger and financial advisor

Value £95 million

Alantra, the global investment banking and asset management specialist has advised Together Financial Services Limited (“Together” or “the Company”), one of the UK’s leading specialist mortgage and secured loan providers, on the design and execution of Brooks Asset Backed Securitisation 1 Limited (“BABS”), a £96.2 million financing facility raised with an established UK-based credit fund, with significant experience in the secured lending space.

BABS is a tailored facility consisting of a varied pool of certain residential and commercial purpose non-performing loans previously funded within the Senior Borrower Group. Consistent with the Group’s wider securitisation program, Together will continue to service and manage the loans within the new facility and will retain the customer relationships, reflecting the Company’s specialist expertise and focus on ensuring the best outcomes for customers.

Together is a leading UK non-bank lender specialising in residential and commercial property-backed loans with a current portfolio of £3.9 billion as of 31 March 2021. Together has a track record of over 45 years of originating, underwriting, and servicing residential and commercial property-backed loans.

Alantra advised the Company on the commercial and structural aspects of the transaction, supporting Together in market sounding and selection of the preferred counterparty as well as assisting in the negotiation of final terms agreed between the Company and the fund.

Gary Beckett, Group Managing Director and Chief Treasury Officer at Together, commented: “We are delighted to have successfully launched this new facility, which follows the recent CRE1 and CRE2 issuances, broadening our funding platform and raising additional liquidity to support the Group’s future growth ambitions.”