Australian mortgage lender Pepper has closed the first securitisation of non-conforming loans in the country this year, raising A$300m ($304m) from a deal that could encourage more supply from specialist mortgage lenders after pricing inside guidance.
The originator got reverse enquiry for the deal after calling a pair of outstanding mortgage-backed issues that it sold in 2007. It used that demand to structure a multi-tranche securitisation that featured three senior tranches worth a total of A$248.4m two of which priced inside final guidance.
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com
Or sign up for a trial to gain full access to the entire site for a limited period.
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: firstname.lastname@example.org or find out more online here.