UK Mortgages Ltd: Securitisation Mandate for TML Portfolio
THE INFORMATION IN THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT
FOR PUBLICATION, RELEASE OR DISTRIBUTION DIRECTLY OR INDIRECTLY IN
OR INTO OR FROM THE UNITED STATES,
CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN.
28 March 2019
UK MORTGAGES LIMITED
(a closed-ended investment company incorporated in Guernsey with
registration number 60440)
LEI
549300388LT7VTHCIT59
Investment
update
UK Mortgages Limited – Securitisation Mandate for TML
Portfolio
28 March 2019
The Board of UK Mortgages Limited (“UKML”, or the “Company”) and
TwentyFour Asset Management LLP (“TwentyFour”) are pleased to
announce that Barley Hill No.1 PLC, the impending securitisation of
the portfolio of first ranking, owner-occupied mortgage loans
originated by The Mortgage Lender Limited (“TML”), has been
mandated to NatWest Markets as Arranger; Citi and NatWest Markets
as Joint Lead Managers and Standard Chartered Bank as
Co-Manager.
TML have been originating loans for the Company since 2016 with
warehouse financing provided by NatWest Markets. The portfolio has
now grown to a size considered appropriate to initiate a
securitisation.
Meetings are being offered to potential securitisation investors
from Friday 29th of March
2019 and a transaction is expected to follow, subject to
market conditions.
An update will be provided once the transaction has
progressed.
Further information:
TwentyFour Asset Management LLP
Rob Ford
020 7015 8900
Numis Securities Limited, Corporate Broker
Nathan Brown
Hugh Jonathan
020 7260 1000
Important notice
This announcement has been prepared for information purposes
only, it is not a prospectus.
The distribution of this announcement in certain jurisdictions
may be restricted by law. Persons into whose possession this
announcement comes are required by the UKML, TwentyFour and Numis
to inform themselves about, and to observe, such restrictions.
Certain statements in this announcement are forward-looking
statements which are based on UKML’s expectations, intentions and
projections regarding its future performance, anticipated events or
trends and other matters that are not historical facts. These
statements are not guarantees of future performance and are subject
to known and unknown risks, uncertainties and other factors that
could cause actual results to differ materially from those
expressed or implied by such forward-looking
statements. TwentyFour's estimate of the potential gross IRR
for this investment is calculated based on certain scenarios and
subject to certain assumptions. This and any other references
herein to potential future returns or distributions are targets and
not forecasts and there can be no guarantee or assurance that they
will be achieved. Given these risks and uncertainties,
prospective investors are cautioned not to place undue reliance on
forward-looking statements. Forward-looking statements speak
only as of the date of such statements and, except as required by
applicable law, UKML undertakes no obligation to update or revise
publicly any forward-looking statements, whether as a result of new
information, future events or otherwise.
The information contained in this announcement is subject to
change without notice and neither the UKML, TwentyFour nor Numis
assume any responsibility or obligation to update publicly or
review any of the forward-looking statements contained herein.
Recipients of this announcement who are considering acquiring
New Shares in UKML are reminded that any such acquisition must be
made only on the basis of the information contained in the
Prospectus and any supplementary prospectus(es) thereto which may
be different from the information contained in this
announcement. This announcement does not constitute or form
part of and may not be construed as an offer to sell, or an
invitation to purchase, investments of any description, nor as a
recommendation regarding the possible offering or the provision of
investment advice by any party. No information in this
announcement should be construed as providing financial, investment
or other professional advice and each prospective investor should
consult its own legal, business, tax and other advisers in
evaluating any investment opportunity. In particular, an
investment in UKML involves a high degree of risk and prospective
investors should read the section in the Prospectus entitled "Risk
Factors" for further information.