Shawbrook Group PLC Completion of GBP330m BTL RMBS Transaction (6249A)

TIDM55TM

RNS Number : 6249A

Shawbrook Group PLC

30 September 2020

Shawbrook Bank Limited completes GBP330m BTL RMBS Transaction.

The UK's Specialist SME Lender of Choice, Shawbrook Bank Limited ('Shawbrook'), has announced the successful completion of its GBP335m securitisation of The Mortgage Lender ('TML') originated loans. The transaction represents the second securitisation Shawbrook has completed in the last 16 months, following SMF 2019-1 in June 2019.

The GBP200m class A notes priced at 110 bps above Sonia and were distributed via Lloyds Bank, BoA and Barclays Bank. The transaction was privately marketed to select investors and as a result of a strong order book we were able to announce the deal publicly on 17 September with the A - E notes fully pre-placed, a total of GBP259m of placed notes in addition to GBP79m of retained A2 notes. Subsequently, the GBP7.9m X note and the residual certificates were also placed with investors resulting in the transaction being fully subscribed at pricing.

The pool is comprised of 2,069 buy-to-let ('BTL') mortgages which are secured against properties in England, Wales and Scotland and were originated by TML. This is the first securitisation of BTL mortgages originated by TML. The transaction will support the Group's growth objectives, funding strategy and capital management.

Shawbrook Chief Financial Officer, Dylan Minto, commented on the transaction:

"We are delighted to have successfully completed this transaction as it further supports our funding diversification strategy and prudent capital management, whilst solidifying our strategic relationship with TML. Our aim with this deal was to structure the transaction in a way that supported full placement of the notes and the residual certificates thereby providing external funding and efficiently managing capital.

The success of this transaction was acknowledged by the strong interest from investors resulting in the notes being oversubscribed and the certificates being placed."

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The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.

About Us: Formed in 2011, Shawbrook is a UK specialist lending and savings bank, focused on Property Finance, Business Finance and Consumer Lending and Savings. Shawbrook differentiates itself by concentrating on markets underserved by the mainstream banks where its expert knowledge, judgement and personalised approach to lending offers a competitive advantage.

General Enquiries:

Shawbrook Bank

Richard Armstrong

07809493158

pressoffice@shawbrook.co.uk

Transaction Enquiries:

Shawbrook Bank

Christopher Such

01277 757160

Christopher.such@shawbrook.co.uk

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