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Issuer
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Paragon Mortgages (No.26) PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ
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Closing Date
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3 July 2019
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Originators
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Paragon Mortgages (2010) Limited, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Paragon Bank PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ
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Notes Issued
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Class A1 Notes
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Class A2 Notes
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Class B Notes
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Class C Notes
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Class D Notes
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Class Z Notes
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Class S VFN Notes
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RC1a Residual Certificates
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RC1b Residual Certificates
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RC2a Residual Certificates
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RC2b Residual Certificates
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Original Rating (Fitch/Moody’s)
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AAA/Aaa
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AAA/Aaa
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AA/Aa1
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A/Aa3
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BBB/Baa3
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Unrated
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Unrated
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Unrated
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Unrated
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Unrated
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Unrated
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Current Rating (Fitch/Moody’s)
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AAA/Aaa
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AAA/Aaa
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AA/Aa1
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A/Aa3
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BBB/Baa3
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Unreated
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Unrated
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Unrated
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Unrated
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Unrated
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Unrated
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Original Notes
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£383,489,000
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£151,540,000
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£24,741,000
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£18,555,000
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£20,102,000
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£20,105,000
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£10,177,000
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N/A
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N/A
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N/A
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N/A
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Note Denominations
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£100,000
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£100,000
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£100,000
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£100,000
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£100,000
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£100,000
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£100,000
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N/A
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N/A
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N/A
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N/A
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Current Margins
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105bp
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120bp
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190bp
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225bp
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260bp
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400bp
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400bp
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N/A
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N/A
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N/A
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N/A
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Step Up / Call Option Dates
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August 2024
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August 2024
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August 2024
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August 2024
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August 2024
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N/A
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N/A
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N/A
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N/A
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N/A
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N/A
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Step Up Margins
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157.5bp
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180bp
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285bp
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325bp
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360bp
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N/A
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N/A
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N/A
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N/A
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N/A
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N/A
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Principal Determination Dates
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Last business day of October, January, April, July
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Quarterly Interest Payment Dates
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15 November, 15 February, 15 May, 15 August
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Lead Managers
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Lloyds Bank PLC, 25 Gresham Street, London, EC2V 7HN Ratings: Fitch (A+) / Moody’s (Aa2) / S&P (A+)
Merrill Lynch International, 2 King Edward Street, London EC1A 1HQ Ratings: Fitch (A+) / Moody’s (-) / S&P (A+)
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Administrators
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Paragon Mortgages (2010) Limited, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Paragon Bank PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ
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Trustee
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Citicorp Trustee Company Limited, Citigroup Centre, Canada Square, Canary Wharf, London, E14 5LB
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Rating Agencies
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Fitch Ratings Limited, 30 North Colonnade, London E14 5GN
Moody’s Investors Service Limited, One Canada Square, Canary Wharf, London, E14 5FA
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Principal Paying / Reference Agent
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Citibank, N.A., London Branch, Citigroup Centre, 21st Floor, Canada Square, Canary Wharf, London, E14 5LB Ratings: Fitch (A+) / Moody’s (Aa3) / S&P (A+)
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Legal Advisors to the Issuer/Administrator
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Clifford Chance LLP, 10 Upper Bank Street, Canary Wharf, London, E14 5JJ
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Legal Advisors to the Lead Managers
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Allen & Overy LLP, 1 Bishops Square, London, E1 6AD
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Legal Advisors to the Trustee
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Simmons & Simmons LLP, City Point, One Ropemaker Street, London, EC2Y 9SS
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Auditors to the Issuer
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KPMG LLP, 15 Canada Square, London E14 5GL
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Underlying Assets
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Investment Home Loans
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Residual Certificates Holders
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Paragon Mortgages (2010) Limited, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Paragon Bank PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ
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Substitute Administrator
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Homeloan Management Limited, The Pavilions, Bridgwater Road, Bristol, BS13 8AE
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Substitute Administrator Facilitator
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Maples Fiduciary Services (UK) Limited, 11th Floor, Aldersgate Street, London, EC1A 4HD
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Basis Hedge Provider
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Lloyds Bank PLC, 10 Gresham Street, London EC2V 7AE
Ratings: Fitch (A+) / Moody’s (Aa2) / S&P (A+)
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