Pepper Money Prices its Seventh Public Securitisation in 2023, Pepper Prime 2023-1 for A$750 Million

Posted: 02-11-2023
Pepper Money Limited (ASX:PPM) today priced a A$750 million residential mortgage-backed security transaction, Pepper Prime 2023-1 that will settle on 9 November 2023.
Pepper Prime 2023-1 is comprised of residential prime mortgages originated by Pepper Money. The funds raised will be used to support Pepper Money’s prime mortgage business growth in Australia. 

Pepper Money’s CEO Mario Rehayem, said: “The demand for Pepper Prime 2023-1 was very strong and demonstrates the ongoing investor support for Pepper Money's securitisation programs. Since the beginning of 2023 we have completed seven securitisation transactions, raising A$5.4 billion in total including Pepper Prime 2023-1.


Pepper Money's mission is to “help people succeed”. Our Prime mortgage product providing customers with a flexible solution as an alternative to traditional bank products. Our disciplined and innovative approach, coupled with our strong credit, funding, distribution and technology has seen our 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 61 securitisation transactions (Including Pepper Prime 2023-1) raising more than A$38.6 billion. The A1 notes in this transaction were issued to a single offshore investor highlighting the strong demand for Pepper Money's Prime mortgage program.

The continued support from debt capital market investors for both Pepper Money’s RMBS and ABS issuances demonstrates the strength and longevity of our relationships and our ability to continue to fund Pepper Money’s ongoing growth.

Pepper Money thanks National Australia Bank Limited (Arranger and Joint Lead Manager), Australia and New Zealand Banking Group Limited, BofA Securities, Commonwealth Bank of Australia and J.P. Morgan Securities Australia Limited for their work as Joint Lead Managers.

This is Pepper Money’s first prime mortgage transaction for 2023. The transaction will settle on 9 November 2023. The pricing details of the notes are as follows:  

Note ClassA1A2BCDEFG
Coupon 1M BBSW+1.30%1.65%2.45%3.00%3.75%6.20%7.50%ND


For more information please contact:

Investor relations contact
Gordon Livingstone
Reunion Capital Partners
0417 695 138

Media contacts
Helen Karlis
Domestique Consulting
0419 593 348

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