Pepper Group sees strong execution in its first Asset Finance Securitisation

Posted: 04-07-2019

Pepper Group has priced its inaugural term transaction of Asset Finance receivables under the newly created SPARKZ platform.

The Sparkz 1 transaction delivered $511.6m of funding for Pepper.

Pepper Group’s Australian CEO, Mario Rehayem, said “This is a significant milestone for Pepper Group and its asset finance business. This securitisation provides us with funding that can sustain the scalable asset finance business model we have built and allows us to continue to offer competitive pricing in market.

“Pepper’s longstanding track record in the RMBS market and its expertise in underwriting and originating multiple asset classes has once again been showcased to the market with the execution of Sparkz 1.” Mario Rehayem

Pepper’s auto finance portfolio comprises a wide range of asset types including motor vehicles and equipment, distributed via commercial and consumer brokers, car dealers and mortgage brokers.

Commenting on Pepper’s unique offering in market, Pepper’s Chief Commercial Officer, Bernie Campbell said, “In under 5 years, Pepper has built an asset finance portfolio of over $2 billion, from a standing start in early 2015. It’s our ability to identify market niches underserved by the banks that has allowed us to achieve such impressive growth.”

In bringing this first asset finance transaction to market, Pepper held bilateral discussions across a core group of investors. A positive reception from this group enabled Pepper to launch a fully placed book, ahead of pricing.

Pepper’s Treasurer, Andrew Twyford said “We are delighted with this strong debut execution from our SPARKZ ABS platform and look forward to offering a second transaction to the broader market later in the year.”

Media contact:

Pepper Money
Senior Marketing Communications Manager
Melissa Fanous
mfanous@pepper.com.au
0412 033 103