Together doubles DABS bridging facility

Together has increased its Delta Asset-Backed Securitisation 2 Limited (DABS) facility from £200m to £400m.

The maturity of DABS, which supports the group’s unregulated bridging lending, has also been extended to December 2025 with improved commercial terms, reflecting the continued strong performance of the assets which support the facility.

The current £400m refinancing, which sees two additional funding partners added to the facility, is set to provide greater lending flexibility. 

DABS was originally launched as a £90m facility in 2017 before being refinanced and upsized to £200m in 2019. 

Gerald Grimes, group CEO designate at Together (pictured above), said: “We are delighted to announce the successful refinancing and upsizing of our facility for unregulated bridging loans as we continue to shape our business to help increasing numbers of customers realise their ambitions.”

Gary Beckett, group managing director and chief treasury officer at Together, added: “The DABS facility forms an integral part of our diverse funding platform, with the refinancing adding further liquidity and depth of maturity to our structure. 

“In the last 12 months, Together has raised or refinanced over £2.3bn across eight transactions, demonstrating the continued strong support from our funding partners as we continue to successfully grow the business.”

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