Herbert Smith Freehills
has advised Pepper Group Limited on its most recent $400 whole loan sale.
The whole loan sale, the second such transaction of the non-bank lender for the year, was comprised of a portfolio of residential mortgage loans.
The HSF team was led by partner Mark Currell, who was supported by senior associate Jacob Kahwaji.
“It has been a pleasure working with Pepper on its second whole loan sale transaction for 2016. The ability to complete two such transactions inside 12 months is a reflection of the quality of Pepper’s existing loan book,” Currell said.
The sale facilitates further diversification of Pepper’s sources of funding outside of its regular securitisation programs.
Pepper group is expected to perform more whole loan sales throughout 2016.
HSF has previously advised Pepper on a number of transactions, including its first $400m whole loan sale transaction in March 2016.
It also advised Pepper on its $471m initial public offering and its acquisition from GE of $5 billion in residential mortgage assets in Australia and New Zealand.