Pepper Money has completed its first residential mortgage backed securitisation.
The UK transaction generated £260m in funding via the sale of UK residential mortgage backed bonds and was reportedly well received by the UK and international investor base.
Laurence Morey (pictured), chief executive of Pepper Money, said: “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.”
Pepper Money is a wholly owned subsidiary of the Pepper Group, which has issued over 30 residential mortgage backed securitisation transactions.