Launch of securitisation

RNS Number : 3705R

Paragon Group Of Companies PLC

02 November 2011

 



2 November 2011

THE PARAGON GROUP OF COMPANIES PLC

Launch of securitisation - Paragon Mortgages (No.16) PLC

The Paragon Group of Companies PLC ("Paragon") is pleased to announce that it has today instructed three lead managers, Lloyds Bank Corporate Markets, Macquarie Bank Limited, London branch and Morgan Stanley, to launch its next securitisation. 

The final terms of the securitisation will be determined following the usual discussions between the lead managers and investors but it is currently expected that the issue size will be approximately £150 million and that pricing will be at around 275 basis points over three month LIBOR.

This securitisation will support Paragon's ongoing new lending programme.

A further announcement will be made in due course.

Paragon intends to announce its full year results on Tuesday 22 November 2011.

For further information, please contact:

The Paragon Group of Companies PLC

Nigel Terrington            Chief Executive

Telephone:                    0121 712 2024

Fishburn Hedges

Andy Berry

Telephone:                    020 7839 4321

Mobile:                         07767 374421

 

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