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Fastnet Securities 19 DAC: 30 June 2024

Another stand-alone transaction via the Fastnet name, where the Issuer will make payments on the Notes from payments of principal and revenue on a portfolio comprising mortgage loans originated by Permanent TSB plc and secured over residential properties located in Ireland.

There are three transactions in the series currently outstanding. The Prospectuses and the Investor Reports for all these transactions can be found via

At the cut-off date (7 March 2024) the portfolio consists of 6,347 owner-occupied repayment loans, secured on 6,229 properties, with an average current loan balance per property of Eur240,712 and a largest current loan of Eur1.989mln. Loan Purpose: Purchase – 78.75%, Re-mortgage – 21.05% and Equity Release 0.20%. Interest rate type: Fixed – 100.00%. The WA indexed LTV is 63.60 (OLTV was 72.57%) and the WA seasoning is 27.35 months. Regional concentration (by total balances): Dublin - 50.96, Cork - 11.49 and Kildare - 7.07%.

Significant Investor: Permanent TSB will, on the closing date, purchase 100% of the Notes.

EU & UK Risk Retention: Permanent TSB will, until the maturity of the Notes, in the capacity of originator, hold on the Closing Date and retain on an ongoing basis from the Closing Date until the maturity of the Notes a material net economic interest of not less than 5% in the securitisation in accordance with Article 6(1) of the Securitisation Regulation.

US Risk Retention: The transaction is not intended to involve the retention by a sponsor for purposes of compliance with the US Risk Retention Rules, but rather it is intended to rely on an exemption provided for in Rule 20 of the US Risk Retention Rules regarding non-US transactions.

STS: Within fifteen Business Days of the Issue Date, it is intended that a notification will be submitted to ESMA and the Central Bank by Permanent TSB, as the originator, in accordance with Article 27 of the EU Securitisation Regulation

Compare/contrast: Fastnet Securities 18, Cavan Securities Funding No.1, Summerhill Residential 2024-1