| Issuer |
Paragon Mortgages (No.25) PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ |
| Closing Date |
26 April 2018 |
| Originator |
Paragon Mortgages (2010) Limited, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Paragon Bank PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ |
| Notes Issued |
Class A Notes |
Class B Notes |
Class C Notes |
Class D Notes |
Class Z Notes |
Class S Notes |
Class S VFN Notes |
RC1a Residual Certificates |
RC1b Residual Certificates |
RC2a Residual Certificates |
RC2b Residual Certificates |
| Original Rating (Fitch/Moody's) |
AAA/Aaa |
AAA/Aa1 |
A-/A1 |
BBB-/Baa1 |
Unrated |
Unrated |
Unrated |
Unrated |
Unrated |
Unrated |
Unrated |
| Current Rating (Fitch/Moody's) |
AAA/Aaa |
AAA/Aaa |
AA-/Aa1 |
A+/A3 |
Unrated |
Unrated |
Unrated |
Unrated |
Unrated |
Unrated |
Unrated |
| Original Notes |
£600,000,000 |
£33,500,000 |
£30,000,000 |
£24,700,000 |
£17,648,000 |
£10,923,000 |
£7,952,955 |
N/A |
N/A |
N/A |
N/A |
| Note Denominations |
£100,000 |
£100,000 |
£100,000 |
£100,000 |
£100,000 |
£100,000 |
£100,000 |
N/A |
N/A |
N/A |
N/A |
| Current Margins (Amended) |
77bp |
107bp |
142bp |
172bp |
272bp |
412bp |
412bp |
N/A |
N/A |
N/A |
N/A |
| Step Up / Call Option Dates |
May 2023 |
May 2023 |
May 2023 |
May 2023 |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
| Step Up Margins (Amended) |
109bp |
154bp |
207bp |
252bp |
272bp |
412bp |
412bp |
N/A |
N/A |
N/A |
N/A |
| Principal Determination Dates |
Last business day of July, October, January, April |
| Quarterly Interest Payment Dates |
15 August, 15 November, 15 February, 15 May |
| Lead Managers |
Lloyds Bank PLC, 25 Gresham Street, London, EC2V 7HN
Morgan Stanley & Co. International PLC, 25 Cabot Square, Canary Wharf, London E14 4QA
Merrill Lynch International, 2 King Edward Street, London EC1A 1HQ |
| Administrator |
Paragon Mortgages (2010) Limited, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Paragon Bank PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ |
| 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 |
| Legal Advisors to the Issuer/Administrators |
Clifford Chance LLP, 10 Upper Bank Street, Canary Wharf, London, E14 5JJ |
| Legal Advisors to the Lead Managers |
Allen & Overy, 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
Paragon Bank PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ |
| Substitute Administrator |
Homeloan Management Limited, The Pavilions, Bridgwater Road, Bristol, BS13 8AE |
| Substitute Administrator Facilitator |
Intertrust Management Limited, 35 Great St. Helen’s, London, EC3A 6AP |
| Basis Hedge Providers |
Lloyds Bank PLC, 25 Gresham Street, London EC2V 7AE |