PAG Paragon Banking Group Plc

TIDMPAG

RNS Number : 0655S

Paragon Banking Group PLC

01 November 2023

Paragon Banking Group PLC

1 November 2023

Completion of securitisation

Paragon Banking Group PLC ("Paragon" or "the Group") is pleased to announce it has completed its latest securitisation, Paragon Mortgages (No.29) PLC ("PM29"). The arrangers were Santander Corporate & Investment Banking and BofA Securities.

PM29 contains GBP899 million of prime buy-to-let mortgage assets originated by Paragon Bank PLC and Paragon Mortgages (2010) Limited, creating GBP747 million of AAA rated senior bonds for the Group. It is expected that the senior bonds will be used as collateral for the Bank of England repo funding facilities and are also available as security for commercial repo transactions with other institutions.

Commenting on today's announcement, Paragon's Chief Executive, Nigel Terrington, said:

"This transaction, Paragon's 67(th) securitisation, has been fully retained and further enhances our contingent funding capacity, continuing our strategy to diversify sources of funding."

Enquiries:

Carolyn Sharpe

Deputy Company Secretary

Email: carolyn.sharpe@paragonbank.co.uk

Tel: 07984 810427

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCDZMGMMMGGFZM

(END) Dow Jones Newswires

November 01, 2023 07:42 ET (11:42 GMT)

Paragon Banking (LSE:PAG)
Gráfica de Acción Histórica
De Abr 2024 a May 2024

Paragon Banking (LSE:PAG)
Gráfica de Acción Histórica
De May 2023 a May 2024