Herbert Smith Freehills has advised leading non-bank lender Pepper Group Limited (ASX:PEP) on completing its third and final whole loan sale for 2016, selling a A$200 million portfolio of residential mortgage loans.
This transaction brings Pepper’s total whole loan sales for 2016 to A$1 billion, following earlier whole loan sales this year worth A$400m each.
The Herbert Smith Freehills team was led by partner Mark Currell, who was supported by senior associate Jacob Kahwaji.
Mark Currell said: “Whole loan sales have an important role to play in Pepper’s annual funding strategy, and we are delighted to have assisted the Pepper team in completing three such transactions within 12 months.”
The Herbert Smith Freehills team has previously advised Pepper on a number of transactions, including its first and second A$400m whole loan sale transactions in 2016, its A$471m initial public offering and its acquisition from GE of A$5 billion in residential mortgage assets in Australia and New Zealand.