Resurgent buy-to-let mortgage provider The Paragon Group of Companies has announced details of the latest securitisation of part of its mortgage book.
Rejoicing in the name Paragon Mortgages (No.17), or PM17 for short, the issue amount is £200m, comprising: £175m of AAA rated notes at a margin of 1.35 percentage points (or 135 basis points) above the three-month London Interbank Offered rate (LIBOR); £10.5m of AA rated notes at 190 basis points (bps) over three-month LIBOR; £10.0m of A rated notes at a margin of 290 bps over three-month LIBOR; £4.5m of subordinated notes retained by Paragon.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
8 of the best riverside properties for saleThe best riverside properties for sale – from a Grade II-listed former mill house with views over the River Chelmer in Essex, to a townhouse on a Georgian terrace overlooking the Avon Gorge in Clifton, Bristol
-
Will “Liberation Day” strike again?Donald Trump’s 90-day tariff pause comes to an end on 9 July. Can we expect further market turmoil?
