Pepper Money Limited (ASX:PPM) today priced a A$675 million residential mortgage-backed security transaction, PRS 36 (PP) that will settle on Thursday 4 May, 2023.
Designed to optimise the funding of its Australian mortgage originations, Pepper Money’s PRS program comprises a mix of Prime and Non-Conforming mortgages. The funds raised under PRS36 (PP) will support Pepper Money’s Non-Conforming mortgage business growth.
Commenting on the transaction, Pepper Money’s CEO Mario Rehayem, said: “Following our strong start to 2023, with our first public securitisation PRS 35 raising A$1.0 billion in February, our ability to raise an additional $675 million under PRS 36 (PP), is a testament to Pepper Money’s strong, ongoing investor support.
“As one of Australia’s leading non-bank lenders, we have, over the past 22 years, demonstrated the scale and depth of our funding capabilities, our credit and underwriting capabilities and our ability to price for risk and continue to grow Pepper Money’s business throughout economic and market cycles.”
Since 2003, Pepper Money has successfully completed 56 securitisation transactions (Including PSR36) raising more than $34.9 billion.
Pepper Money thanks Westpac Banking Corporation for all their work as Arranger and Lead Manager and KWM who acted as Pepper Money’s legal counsel.
This is Pepper Money’s second Non-Conforming PRS deal for 2023. The transaction will settle on 4 May 2023.
For more information please contact:
Investor relations contact
Reunion Capital Partners
0417 695 138
0419 593 348
0432 344 069