Pepper Money Prices its First 2024 Public Securitisation (PRS39) Raising A$750 Million

Pepper Money’s PRS program comprises a mix of Prime and Non-conforming mortgages. The funds raised under PRS39 will continue to support Pepper Money’s Non-conforming mortgage business growth in Australia.

Pepper Money’s CEO Mario Rehayem, said: “Our ability to raise A$750 million under PRS39, with most tranches heavily oversubscribed, is testament to the strong investor support for Pepper Money's securitisation programs. We have a longstanding (23+ years) track record in debt capital markets and of successfully managing through all economic cycles. With A$20 billion in Assets under Management (AUM) today, we remain financially strong and well positioned to capitalise on opportunities as they emerge."

As one of Australia’s leading non-bank lenders, we have, over the past two decades, developed deep understanding of customer niches - typically those underserved by banks – which has enabled us to deliver on our mission to “help people succeed",'in particular in the Non-conforming mortgage segment where we have demonstrated our strength.

Our ability to be innovative, agile, and disciplined and to leverage our core competencies of credit, funding, distribution, and technology – has seen the business grow from a specialist lender in 2000 to a leading non-bank lender in Mortgages and Asset Finance today.

Pepper Money's Treasurer, Anthony Moir commented: "Since 2003, Pepper Money has successfully completed 62 securitisation transactions (including PRS39) raising more than A$39 billion. The strong ongoing support from debt capital market investors for both Pepper Money’s Prime and Non-conforming issuances demonstrates the strength and longevity of our relationships and our ability to continue to fund Pepper Money’s ongoing growth."

Pepper Money thanks Commonwealth Bank of Australia (Arranger and Joint Lead Manager), National Australia Bank Limited, Royal Bank of Canada, Sydney Branch, Standard Chartered Bank and Westpac Banking Corporation for their work as Joint Lead Managers.

This is Pepper Money’s first transaction for 2024. The transaction will settle on 28 February 2024. The pricing details of the notes are as follows: