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Pepper Money Limited (ASX:PPM)

ALERT: Price-sensitive ASX Announcement for PPM
Current share price for PPM : $1.950 0.195 (11.11%)+
Announcement
Release
3 Aug 2026 8:31AM
Price at Release
$1.755
Full Release
download
Summary
Pepper Money Limited announced the completion of the acquisition of RAMS home loan portfolio from Westpac Banking Corporation, valued at approximately $15.4 billion in residential mortgages, by a consortium which includes Pepper Money, KKR, and PIMCO-managed funds. Pepper Money has been appointed the servicer of the portfolio, aligning with its strategy to expand its capital-light servicing business. The company also holds a minor investment in the securitisation financing vehicle that acquired the beneficial interest in the loans.
Key Points
  • Pepper Money Limited confirms completion of RAMS home loan portfolio acquisition.
  • The acquisition was completed by a consortium including Pepper Money, credit funds managed by KKR, and PIMCO-managed funds.
  • The portfolio comprises approximately $15.4 billion in residential mortgages.
  • Pepper Money has been appointed as the servicer for the portfolio.
  • The acquisition supports Pepper Money's strategy to grow its capital-light servicing business.
  • Pepper Money holds a small investment in the securitisation financing vehicle for the portfolio.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.