13th Nov 2014 12:21
LONDON (Alliance News) - The Paragon Group of Companies PLC Thursday said it has completed its latest securitisation, Paragon Mortgages (No.21) PLC.
The final terms of the GBP250 million securitisation showed GBP217.9 million of Class A Notes priced at 80 basis points over three-month LIBOR; GBP17.7 million of Class B Notes priced at 140 basis points over three-month LIBOR; GBP8.1 million of Class C Notes priced at 175 basis points over three-month LIBOR; and GBP6.3 million of Class D Notes retained by a Paragon Group company.
"Investor demand continues to be strong and PM21 is our third transaction in 2014, during which we have issued GBP950 million of Notes, which supports Paragon's on-going new lending programme and places the group as one of the most frequent issuers in the UK," Chief Executive Nigel Terrington said in a statement.
The joint lead managers were Lloyds Bank Corporate Markets, Macquarie Bank Ltd London Branch, Morgan Stanley and Natixis.
Paragon Group of Companies shares were down 0.16 pence at 364.84p Thursday midday.
By Samuel Agini; [email protected]; @samuelagini
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