Examples of Lakeside ABS in a sentence
Most of our operating subsidiaries sell certain of their mortgage loans to Charles Street ABS, Lakeside ABS, Delta ABS 2 and Highfield ABS in connection with each of the Conduit Securitizations and continue to service such mortgage loans after they have been sold.
The loan notes issued by Charles Street ABS and Lakeside ABS to certain lenders to finance their purchase of the loans and any interest and fees accrued but not yet paid in respect thereof, are maintained on our statement of financial position as liabilities due to creditors with interest and debt issuance costs expensed through our income statement.
On 30 October 2019, the Group refinanced Lakeside ABS increasing the facility size from £255m to £500m and extended its maturity to November 2023.
The maturity dates for revolving facilities include an amortisation period covering one year prior to the maturity date, except for Lakeside ABS which has no amortisation period.Following its refinancing in September 2022, the maturity date on the undrawn revolving credit facility (RCF) is September 2026 with the facility size increased from £71.9m to £138.3m.Subordinated shareholder loans were originally issued on 2 November 2016.
Most of our operating subsidiaries sell certain of their mortgage loans to Charles Street ABS, Delta ABS 2, Highfield ABS and Lakeside ABS in connection with each of the Private Revolving Securitizations and continue to service such mortgage loans after they have been sold.
Mortgage loans sold to Charles Street ABS, Lakeside ABS, Delta ABS, Together ABS and Highfield ABS are maintained on our consolidated statement of financial position as assets, within loans and advances to customers and the associated interest receivable credited to our consolidated income statement.
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Most of our operating subsidiaries sell certain of their mortgage loans to Charles Street ABS, Lakeside ABS and Delta ABS in connection with each of the Conduit Securitizations and continue to service such mortgage loans after they have been sold.
Events after the reporting date In April 2022, the Group successfully refinanced its Lakeside ABS facility, extending its maturity from October 2023 to April 2026 and increasing its size from £500m to £700m, and with the addition of a new funding partner.
On completion of the transaction we drew £165m to support the purchase of £203m of commercial real estate loans in the Charles Street ABS facility and Lakeside ABS, significantly reducing the balance of commercial real estate loans in these facilities.The Sunday Times 100 Best Companies to Work For The Group was placed 34th in the in Sunday Times 100 Best Companies to Work For.