Pepper has to educate to refi US notes

Aussie RMBS 230x
By Matthew Scully
10 Jul 2014

Pepper Australia is appealing to US money funds to refinance an RMBS it issued last year but an apparent lack of familiarity with the foreign asset class is forcing syndicators to spend extra time educating prospective buyers.

The Australian non-bank lender is targeting money market funds to refinance the $260m tranche in PEPAU 2013-1xau, which is set to mature on July 24 this year. The one year notes may appeal directly to buyers ...

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