This latest securitisation by Paragon brings its total issuance to £8.8 billion through 42 public transactions.
The Group has offered bonds in several currencies attracting further new investors in Continental Europe. Demand was strong across all currencies and the transaction size was increased to satisfy the demand.
The notes were issued in various tranches as well as multi-currencies and were rated by Standard & Poor’s and Moody’s.
Nick Keen, Paragon’s finance director comments:
“This transaction is the first Paragon has undertaken to finance Mortgage Trust’s growth since we acquired Britannic Money in 2003 and the high quality of the mortgage loans originated makes this a very natural addition to the Paragon programme. Investor interest was highly positive and resulted in the upsizing of the deal.”
