Pepper Money Prices its Second 2024 Public Securitisation
(SPARKZ 8) Raising A$676 Million

This is Pepper Money’s second public securitisation transaction in 2024 having raised $1.4 billion in the securitisation markets calendar year to date.

Pepper Money's ABS program - SPARKZ - started in 2019 and supports the continued growth of Pepper Money's Asset Finance business, which now has Assets Under Management in excess of $6 billion, making it a leading non-bank asset financer in Australia. The portfolio is comprised of car receivables and other asset types, such as marine and recreational equipment, distributed via mortgage brokers, online auto brokers, commercial and consumer brokers, car dealerships, salary packagers, and original equipment manufacturers.

Pepper Money’s CEO Mario Rehayem, said, “We started our Asset Finance business in late 2014 and have since grown it to become a leading non-bank asset finance lender in Australia. Pepper Money undertook its first SPARKZ transaction in 2019 – we are now onto our 8th and have raised more than $5.4 billion from this program alone - a testament to the ongoing investor support for Pepper Money and our Asset Finance business. SPARKZ 8 will support the ongoing originations growth of our Asset Finance business.”

Anthony Moir, Pepper Money’s Treasurer commented, “Investor interest for this transaction was strong and we experienced favourable market conditions. It was encouraging to see a good mix of both domestic and offshore investors participate in the transaction and we thank both our long-term investors and new investors to the SPARKZ program for their participation.”

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

This is Pepper Money’s second public term securitisation for 2024. The transaction will settle on 18 April 2024. The pricing details of the notes are as follows: