| Issuer | Paragon Mortgages (No.26) PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ |
|---|
| Closing Date | 3 July 2019 |
| Originators | Paragon Mortgages (2010) Limited, 51 Homer Road, Solihull, West Midlands, B91 3QJ (Not rated)
Paragon Bank PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ (Not rated) |
| Notes Issued | Class A1 Notes | Class A2 Notes | Class B Notes | Class C Notes | Class D Notes | Class Z Notes | Class S Notes | Class SVFN Notes | RC1a Residual Certificates | RC1b Residual Certificates | RC2a Residual Certificates | RC2b Residual Certificates |
| Original Rating (Fitch/Moody’s) | AAA/Aaa | AAA/Aaa | AA/Aa1 | A/Aa3 | BBB/Baa3 | Unrated | Unrated | Unrated | Unrated | Unrated | Unrated | Unrated |
| Current Rating (Fitch/Moody’s) | AAA/Aaa | AAA/Aaa | AA/Aa1 | A+/Aa3 | BBB+/Baa3 | Unrated
| Unrated | Unrated | Unrated | Unrated | Unrated | Unrated |
| Original Notes | £383,489,000 | £151,540,000 | £24,741,000 | £18,555,000 | £20,102,000 | £20,105,000 | £10,177,000 | £9,477,658 | N/A | N/A | N/A | N/A |
| Note Denominations | £100,000 | £100,000 | £100,000 | £100,000 | £100,000 | £100,000 | £100,000 | £100,000 | N/A | N/A | N/A | N/A |
| Current Margins | 105bp | 120bp | 190bp | 225bp | 260bp | 360bp
| 400bp | 400bp | N/A | N/A | N/A | N/A |
| Step Up / Call Option Dates | August 2024 | August 2024 | August 2024 | August 2024 | August 2024 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Step Up Margins | 157.5bp | 180bp | 285bp | 325bp | 360bp | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Principal Determination Dates | Last business day of October, January, April, July |
| Quarterly Interest Payment Dates | 15 November, 15 February, 15 May, 15 August |
| Lead Managers | Lloyds Bank Corporate Markets PLC, 25 Gresham Street, London, EC2V 7HN Ratings: Fitch (A+) / Moody’s (A1) / S&P (A)
Merrill Lynch International, 2 King Edward Street, London EC1A 1HQ Ratings: Fitch (AA-) / Moody’s (-) / S&P (A+) |
| Administrators | Paragon Mortgages (2010) Limited, 51 Homer Road, Solihull, West Midlands, B91 3QJ (Not rated)
Paragon Bank PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ (Not Rated) |
| Trustee | Citicorp Trustee Company Limited, Citigroup Centre, Canada Square, Canary Wharf, London, E14 5LB (Not Rated) |
| Rating Agencies | Fitch Ratings Limited, 30 North Colonnade, London E14 5GN
Moody’s Investors Service Limited, One Canada Square, Canary Wharf, London, E14 5FA |
| Principal Paying / Reference Agent | 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+) |
| Legal Advisors to the Issuer/Administrator | Clifford Chance LLP, 10 Upper Bank Street, Canary Wharf, London, E14 5JJ |
| Legal Advisors to the Lead Managers | Allen & Overy LLP, 1 Bishops Square, London, E1 6AD |
| Legal Advisors to the Trustee | Simmons & Simmons LLP, City Point, One Ropemaker Street, London, EC2Y 9SS |
| Auditors to the Issuer | KPMG LLP, 15 Canada Square, London E14 5GL |
| Underlying Assets | Investment Home Loans |
| Residual Certificates Holders | Paragon Mortgages (2010) Limited, 51 Homer Road, Solihull, West Midlands, B91 3QJ (Not Rated)
Paragon Bank PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ (Not Rated) |
| Retention Undertaking | Paragon Finance PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ (Not Rated) as an orginator will retain a material net economic interest of at least 5 per cent. in the securitisation as required by Article 6 of Regulation (EU) 2017/2042 (the "Securitisation Regulation") which, does not take into account any corresponding national measures. |
| Substitute Administrator | Homeloan Management Limited, The Pavilions, Bridgwater Road, Bristol, BS13 8AE (Not rated) |
| Substitute Administrator Facilitator | Maples Fiduciary Services (UK) Limited, 11th Floor, Aldersgate Street, London, EC1A 4HD (Not Rated) |
| Basis Hedge Provider | Lloyds Bank Corporate Markets PLC, 25 Gresham Street, London EC2V 7AE Ratings: Fitch (A+) / Moody’s (A1) / S&P (A) |