Paragon Banking Group PLC

Capital/Financing Update • Nov 13, 2014

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RNS Number : 9612W

Paragon Group Of Companies PLC

13 November 2014

The Paragon Group of Companies PLC

13 November 2014

Completion of securitisation

The Paragon Group of Companies PLC ("Paragon") is pleased to announce that it has completed its latest securitisation, Paragon Mortgages (No.21) PLC ("PM21"). The joint lead managers were Lloyds Bank Corporate Markets, Macquarie Bank Limited London Branch, Morgan Stanley and Natixis.

The final terms of the £250 million securitisation are as follows:

·      £217.9 million of Class A Notes priced at 80 basis points over three month LIBOR

·      £17.7 million of Class B Notes priced at 140 basis points over three month LIBOR

·      £8.1 million of Class C Notes priced at 175 basis points over three month LIBOR

·      £6.3 million of Class D Notes retained by a Paragon Group company

A Paragon Group company provided a £6.25 million First Loss Fund.

Commenting on today's announcement, Paragon's Chief Executive, Nigel Terrington, said: "We are delighted with the continued strength of Paragon's securitisation programme.  Investor demand continues to be strong and PM21 is our third transaction in 2014, during which we have issued £950 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."

Paragon announces it full year results for the year ended 30 September 2014 on Tuesday 25 November 2014.

For further information, please contact:

Richard Woodman, Finance Director, 0121 712 2607

Kathryn Rhinds, Investor Relations Manager, 0121 712 3161

This information is provided by RNS

The company news service from the London Stock Exchange

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