TIDMLINV
RNS Number : 1191V
Lendinvest PLC
30 November 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM ANY OTHER
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
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LEI: 213800NWMK3O4UWP9N91
30 November 2023
LendInvest plc
LendInvest completes fifth and largest securitisation of GBP410
million of UK prime BTL mortgage loans
LendInvest plc (LSE: LINV, " LendInvest " ), a leading platform
for mortgages and the ultimate holding company of LendInvest BTL
Limited, today announces that LendInvest BTL Limited has completed
the group's fifth and largest securitisation of GBP410 million of
UK prime Buy-to-Let mortgage loans in an oversubscribed Residential
Mortgage Backed Security (RMBS) transaction, "Mortimer BTL
2023-1".
The securitisation, which comprised GBP410 million of UK prime
BTL mortgage loans, received an Aaa(sf) and AAA(sf) rating (for
89.5% of the pool) from global credit rating agencies Fitch and
S&P Global Ratings respectively. The senior tranche was priced
at 1.17% over SONIA*.
The securitisation received the tightest pricing on a BTL RMBS
transaction in the last six months, with proceeds used to power
LendInvest's Buy-to-Let and Residential products.
National Australia Bank and Lloyds acted as Joint Arrangers.
Barclays, Citi, HSBC, Lloyds, National Australia Bank Limited,
Wells Fargo Securities acted as Joint Lead Managers.
The transaction increases LendInvest's total Funds under
Management (FuM) to GBP4.2 billion. The business has now lent more
than GBP6 billion of property finance to UK borrowers since
2008.
Rod Lockhart, Chief Executive Officer of LendInvest, said : "I
am delighted to announce the completion of this transaction, which
is our fifth and largest securitisation since we started our RMBS
programme in 2019.
"This achievement is particularly significant in the current
market, and it demonstrates the continued attractiveness of this
asset class."
Miray Muminoglu, Head of Securitised Products Group and FIG DCM
at Lloyds, said: "Having put in place the warehouse facility back
in September 2022, we are very pleased to have assisted LendInvest
to come to the market with this highly successful RMBS
transaction."
Rahni Soliman, Global Head of Capital Markets Originations at
National Australia Bank Limited, said: "National Australia Bank was
pleased to act as Co-Arranger and Joint Lead Manager on the latest
Mortimer 2023-1 term transaction, this being the largest
transaction for the Mortimer shelf to date, and a very successful
return to the RMBS market."
--Ends--
Note to Editors
* SONIA: Sterling Overnight Index Average
Enquiries:
LendInvest via Teneo +44 (0)20 7353 4200
Rod Lockhart, Chief Executive Officer
David Broadbent, Chief Financial Officer
Hugo Davies, Chief Capital Officer
Leigh Rimmer, Head of Communications
investorrelations@lendinvest.com
Panmure Gordon (NOMAD and Joint Broker) +44 (0)20 7886 2500
Atholl Tweedie
David Watkins
Cavendish (Joint Broker) +44 (0)20 7220 0500
Jonny Franklin-Adams
Tim Redfern
Teneo (Financial PR) +44 (0)20 7353 4200
Tom Murray
Ed Cropley
Olivia Lucas
Important Notices
The information contained in this announcement is for
information purposes only. This announcement has been prepared in
accordance with English law, the UK Market Abuse Regulation and the
AIM Rules for Companies and information disclosed may not be the
same as that which would have been prepared in accordance with the
laws of jurisdictions outside England.
Subject to the requirements of the UK Market Abuse Regulation
and the AIM Rules for Companies, the delivery of this announcement
shall not create any implication that there has been no change in
the affairs of LendInvest or any group company since the date of
this announcement or that the information in this announcement is
correct as at any time subsequent to its date.
Certain statements in this announcement are forward-looking
statements. In some cases, these forward looking statements can be
identified by the use of forward looking terminology including the
terms "anticipate", "believe", "intend", "estimate", "expect",
"may", "will", "seek", "continue", "aim", "target", "projected",
"plan", "goal", "achieve" and words of similar meaning or in each
case, their negative, or other variations or comparable
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expectations and assumptions and are subject to a number of known
and unknown risks, uncertainties and other important factors that
could cause results or events to differ materially from what is
expressed or implied by those statements. Many factors may cause
actual results, performance or achievements of LendInvest to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. Important factors that could cause actual results,
performance or achievements of LendInvest and members of its group
to differ materially from the expectations of LendInvest, include,
among other things, general business and economic conditions
globally, industry trends, competition, changes in government and
changes in regulation and policy, changes in its business strategy,
political and economic uncertainty and other factors. As such,
undue reliance should not be placed on forward-looking statements.
Any forward-looking statement is based on information available to
LendInvest as of the date of the statement. All written or oral
forward-looking statements attributable to LendInvest are qualified
by this caution. Other than in accordance with legal and regulatory
obligations, LendInvest undertakes no obligation to publicly update
or revise any forward-looking statement, whether as a result of new
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announcement should be regarded as a profit forecast.
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END
UPDDKLFLXFLBFBZ
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November 30, 2023 02:00 ET (07:00 GMT)
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