Pepper Money completes £260m securitisation

Pepper Money has completed its first residential mortgage backed securitisation, according to the firm.

The transaction generated £260m of funding via the sale of UK residential mortgage backed bonds issued under Polaris 2019-1 brand, add the firm.

Pepper Money part of the Pepper Group has issued over 30 residential mortgage backed securitisation transactions.

Pepper Money chief executive Laurence Morey says: “There was strong investor demand for this securitisation, which was over-subscribed in a competitive and uncertain market.

“This is testament to the quality assets we are able to generate at Pepper Money and the strength of Pepper’s global franchise.

“While Polaris 2019-1 happens to be our first UK transaction it builds on Pepper’s exceptional multi cycle track record as a committed capital markets issuer.

“Polaris 2019-1 is another important step in our growth plans to develop a market leading specialist lending business built on a diverse and sustainable funding strategy.”

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