U.K. lender Paragon plans to issue £350 million ($483 million) of bonds backed by first-lien buy-to-let home loans.

Buy-to-let mortgages fund the purchase of residential properties in the U.K. that will be rented. The deal is the nineteenth issued under the Paragon Mortgages label. Llyods Bank, Macquarie Bank (London Branch) and Morgan Stanley are joint lead managers on the deal.

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