Together successfully upsizes LABS Securitisation to £1bn

Together Financial Services Limited (“Together” or “the Group”), one of the UK’s leading non-bank relationship lenders, is pleased to announce that it has successfully upsized its revolving Lakeside securitisation programme (“LABS”) from £825m to £1bn.

Highlights
• Facility upsized from £825m to £1bn
• Maturity extended to November 2028
• Commercial terms improved
• New bank added into facility

LABS, which primarily supports the Group’s unregulated and regulated bridging lending, was first launched in 2015 as a £255m revolving securitisation facility. The facility has since increased to £500m in 2019, £700m in 2022 and further increased to £825m in 2023.

Commenting on the transaction, Gary Beckett, Group Managing Director and Chief Treasury Officer of Together, said: “The completion of yet another successful upsizing of our LABS securitisation, on improved commercial terms, reflects the continued strength of Together’s business and the long term support of our funding partners. The refinance adds further liquidity and depth of maturity to our funding structure as Together continues to help increasing numbers of customers to realise their property ambitions”
Together has a diverse and mature funding structure encompassing twelve public and six private securitisation facilities, two series of senior secured notes and a revolving credit facility. This calendar year, Together has raised or refinanced over £3.3bn of facilities across seven transactions.

Together will be announcing its Q1 results for the quarter to 30 September 2024 on 21st November 2024.