Pepper Group celebrates record issuance year by pricing SPARKZ 3 transaction

Posted: 14-12-2020

Pepper Group has celebrated a year of record issuance by pricing SPARKZ3. This Asset Finance transaction delivered $615.9m of funding to the group.

This is Pepper’s second SPARKZ transaction in 2020 and fifth public transaction since June 2020, totalling almost $4.2 billion.

Pepper’s asset finance portfolio comprises auto receivables but also includes a range of other asset types and is distributed via commercial and consumer brokers, car dealers and mortgage brokers.

Commenting on the SPARKZ transaction, Pepper Group’s CEO, Australia and New Zealand, Mario Rehayem, said “I am delighted that our second ABS transaction in 2020 has also led to us experiencing a record year of issuance in the public debt capital markets. It signifies the strong growth we have experienced in our Asset Finance business in 2020, growing investor appetite for this relatively new Pepper platform. Importantly, as with our mortgages business, it leaves us exceptionally well-funded and therefore able to help even more customers in 2021.”

“It was pleasing to end the year on a high note. Our third asset finance ABS transaction saw great support from a broad group of our global investor base. As always, we are excited to continue to see new investors participating in our funding platforms. We look forward to offering more investment opportunities to all interested investors in 2021." Pepper Treasurer Andrew Twyford

"We would like to thank our arranger and Joint Lead Manager Westpac Institutional Bank as the well as our other Joint Lead Managers in National Australia Bank, BofA Securities, Societe Generale, RBC Capital Markets and MUFG Securities.”

The transaction will settle on 17 December 2020.