Pepper Money Prices its Fifth Public Securitisation
for 2023 - SPARKZ 7

Posted: 17-08-2023
Pepper Money Limited (ASX:PPM) today priced a A$724.64 million car and equipment asset backed security (ABS) transaction – SPARKZ 7 - that will settle on 23 August 2023.

This is Pepper Money’s fifth public securitisation transaction in 2023 having raised $3.8 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 $5 billion, making it a leading non-bank asset financer in Australia. The portfolio comprises 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 and original equipment manufacturers (OEM).

Pepper Money’s CEO Mario Rehayem, said,


We started the Asset Finance business in late 2014 and since then it has grown 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 7th and have raised in excess of $4.7 billion from this program alone, a testament to the ongoing investor support for Pepper Money and our Asset Finance business. SPARKZ 7 will support the ongoing originations growth of our Asset Finance business.


Anthony Moir, Pepper Money’s Treasurer commented, “We experienced favourable market conditions for this transaction and investor interest was strong. 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 Westpac Banking Corporation (Arranger and Sole Lead Manager) and King & Wood Mallesons (KWM -Melbourne) who acted as Pepper Money's legal counsel.

This is Pepper Money’s second ABS deal for 2023, and the fifth securitisation for the year.

The transaction will settle on 23 August 2023. The pricing details of the notes are as follows: 


Note ClassA1-xA1-aBCDEFG
Coupon 1M BBSW+NDND2.40%3.00%3.70%6.75%8.25%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


Celia Moore
Domestique Consulting
0432 344 069

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