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Herbert Smith Freehills has advised leading non-bank lender Pepper Group Limited (ASX:PEP) on a whole loan sale transaction in Australia comprising a portfolio of A$400 million residential mortgage loans.

This is the first whole loan sale transaction conducted by Pepper in 2016 and is strategically significant in facilitating the diversification of Pepper’s sources of funding outside of its regular securitisation programs.

The Herbert Smith Freehills team was led by partner Mark Currell, who was supported by senior associate Jacob Kahwaji. Mark Currell said, “We are delighted to have assisted the Pepper team on its first whole loan sale transaction for 2016. The transaction required wide ranging specialist expertise from across the firm and it has been great to work with the Pepper team on this strategically important transaction.”

The Herbert Smith Freehills team has previously advised Pepper on a number of transactions including its A$471 million initial public offering and its acquisitions from GE of A$5 billion in residential mortgage assets in Australia and New Zealand.