LONDON-- Paragon Group Of Companies PLC (PAG.LN), a mortgage and
loans company, said Monday it has extended and increased its
warehouse facility with Macquarie Bank.
MAIN FACTS:
-Renewal of its mortgage warehouse facility with Macquarie Bank
Limited, with an increase in the facility to 250 million pounds
from GBP200 million.
-Will be available until Dec. 13 2016 to Paragon Fourth Funding
Limited, a 100% owned subsidiary of Paragon and interest will be
charged on the amount drawn at an unchanged rate of three month
LIBOR plus 2.875%.
-Paragon uses warehouse facilities to originate and aggregate
mortgage loans, where they are held for a limited period prior to
long-term funding in the mortgage backed securitisation
markets.
-Paragon recently completed its latest securitisation, PM17,
amounting to GBP200 million.
-This extension and increase in the loan facility means that the
total warehouse capacity within the Group is now GBP450 million and
supports its growth plans in the buy-to-let market.
-Shares at closed Friday at 247 pence, valuing the company at
GBP743.59 million.
-Write to Mark Shapland at mark.shapland@dowjones.com
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