together financial services

Together issues £435m of senior secured notes

Together Financial Services Limited has issued £435m of senior secured notes through its wholly owned subsidiary Jerrold FinCo plc.

Mike McTighe, group chairman at Together, commented: “We are delighted with the success of this £435m issuance, which was upsized on improved terms to reflect the significant level of demand and continued investor support for Together’s long-term growth prospects.”

Gary Beckett, group MD and chief treasury officer at Together, added: “This refinancing follows the success of our third public RMBS and the refinancing and upsizing of our Lakeside securitisation late last year. 

“This latest issuance delivers additional liquidity, a significant reduction in coupon, and further extends the scale and depth of maturity of our bonds, providing a strong platform to support the group’s growth plans.”

Credit Suisse Securities (Europe) Limited, Barclays Bank PLC, Citigroup, Goldman Sachs International, Lloyds Bank plc, HSBC and JP Morgan acted as initial purchasers with respect to the issuance of the notes.

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