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Paragon Mortgages (No.28) PLC - November 2020

Issuer Paragon Mortgages (No.28) PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Closing Date11 November 2020
OriginatorsParagon 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 A NotesClass B NotesClass C NotesClass D NotesClass Z NotesClass S NotesClass SVFN NotesRC1a Residual CertificatesRC1b Residual CertificatesRC2a Residual CertificatesRC2b Residual Certificates
Original Rating (Fitch/Moody’s)AAA/AaaAA/Aa1A/Aa3BBB/Baa1UnratedUnratedUnratedUnratedUnratedUnratedUnrated
Current Rating (Fitch/Moody’s)AAA/AaaAA/Aa1A/Aa3BBB/Baa1UnratedUnratedUnratedUnratedUnratedUnratedUnrated
Original Notes£623,812,000£39,664,000£21,635,000£18,029,000£18,031,000£11,148,000£1,141,618N/AN/AN/AN/A
Note Denominations £100,000£100,000£100,000£100,000£100,000£100,000£100,000N/AN/AN/AN/A
Current Margins95bp135bp165bp195bp295bp400bp400bpN/AN/AN/AN/A
Step Up / Call Option DatesDecember 2025December 2025December 2025December 2025N/AN/AN/AN/AN/AN/AN/A
Step Up Margins142.5bp202.5bp247.5bp292.5bpN/AN/AN/AN/AN/AN/AN/A
Principal Determination Dates Last business day of November, February, May, August
Quarterly Interest Payment Dates15 December, 15 March, 15 June, 15 September
ArrangersLloyds Bank Corporate Markets Plc, 25 Gresham Street, London, EC2V 7HN Ratings: Fitch (A+) / Moody’s (A1) / S&P (A)
BofA Securities, 2 King Edward Street, London EC1A 1HQ Ratings: Fitch (AA) / Moody’s (-) / S&P (A+)
AdministratorsParagon 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
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/AdministratorClifford Chance LLP, 10 Upper Bank Street, Canary Wharf, London, E14 5JJ
Legal Advisors to the ArrangersAllen & Overy LLP, 1 Bishops Square, London, E1 6AD
Legal Advisors to the TrusteeSimmons & 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 HoldersParagon 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 UndertakingParagon Bank PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ (Not Rated) as an originator 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 AdministratorHomeloan Management Limited, The Pavilions, Bridgwater Road, Bristol, BS13 8AE (Not rated)
Substitute Administrator FacilitatorMaples Fiduciary Services (UK) Limited, 11th Floor, Aldersgate Street, London, EC1A 4HD (Not Rated)
Basis Hedge ProviderLloyds Bank Corporate Markets PLC, 25 Gresham Street, London EC2V 7AE  Ratings: Fitch (A+) / Moody’s (A1) / S&P (A)