Funding totalling £260m was generated through the sale of UK residential mortgage-backed bonds issued under the Polaris 2019-1 brand.
The transaction — which was well received by the UK and international investor base — achieved high levels of both demand and oversubscription.
“There was strong investor demand for this securitisation, which was oversubscribed in a competitive and uncertain market,” said Laurence Morey, CEO at Pepper Money (pictured above).
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“This is testament to the quality assets we are able to generate at Pepper Money and the strength of Pepper’s global franchise.
“While Polaris 2019-1 happens to be our first UK transaction, it builds on Pepper’s exceptional multi-cycle track record as a committed capital markets issuer.
“Polaris 2019-1 is another important step in our growth plans to develop a market-leading specialist lending business built on a diverse and sustainable funding strategy.”
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