Pepper RMBS to be priced with euro tranche

Australian lender Pepper Money this week started marketing an RMBS that will offer investors a euro-denominated tranche and a short-dated dollar tranche, as the issuer looks ready to be the first to jump into the European securitization market this year.

  • By Tom Brown
  • 24 Jan 2019

The size of the tranche and initial price thoughts have not been released yet, but market sources estimate the tranche to be sized between €100m-€150m. The IPTs for the euro tranche are estimated to be between 115bps-125bps.

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1 Citi 3,691 11 20.70
2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.78

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3 Wells Fargo Securities 31,464.27 90 8.40%
4 Bank of America Merrill Lynch 29,270.38 93 7.81%
5 Credit Suisse 23,189.41 72 6.19%