Pepper Group refinances $170m US Dollar PRS 16 bond

Posted 09-03-2017

Sydney, 09 March 2017 – Pepper Group Limited (Pepper) is pleased to announce that it has completed the refinancing of a US$170m bond relating to Pepper Residential Securities Trust (PRS) 16, a non-conforming RMBS issue which initially priced in March 2016.

This bond was originally issued as a 12 month bullet denominated in US dollars. As required by the original transaction, the tranche has now been repaid and subsequently reissued as a second 12 month bullet in US Dollars.

The note priced at 65 basis points over 1mth Libor, which is 8 basis points tighter than the original note issued 12 months ago.

Commenting on the positive outcome, Group Treasurer, Todd Lawler said “In addition to the improvement in price, Pepper was pleased with the level of strong support received from new and existing investors for this issuance.  This increases our desire to continue issuance in the US capital markets as our funding programmes expand.”

Pepper Group was assisted in this transaction by National Australia Bank (Arranger) and nabSecurities LLC and Citigroup Global Markets Inc (Joint Lead Manager).


For more information please contact:

Melinda Hofman
Corporate Affairs Manager
Pepper Group Limited
(02) 9463 4675
0438 855 991