The PRWIRE Press Releases https:// 2016-05-11T23:44:36Z Insights Roadshow series by Pepper Money uncovers local opportunities for brokers 2016-05-11T23:44:36Z insights-roadshow-series-by-pepper-money-uncovers-local-opportunities-for-brokers Australia, 12 May 2016 – Following the success of last year’s roadshows, Pepper Money has announced the dates of the 2016 Insights Roadshow series for brokers, running throughout May and June.   The roadshow will be held in Adelaide, Perth, Brisbane, Melbourne and Sydney, and will arm brokers with insights and opportunities presented by the non-conforming lending market.    Building on 18 months of extensive research by Pepper Money, VEDA, Dun & Bradstreet and Fifth Dimension, the roadshow will supply business owners and brokers with the tools they need to better understand and service borrowers in their specific local area, enabling them to drive more value through the door.   Pepper Money’s Director of Sales and Distribution, Mario Rehayem, said the roadshow will focus on improving business leads and conversions.   “In today’s changing lending landscape, it’s vital for brokers to be prepared and able to capitalise on every opportunity that exists in the market. Our research this year has been localised, giving brokers a deeper understanding of the non-conforming lending sector, drilling down into underserviced segments of their local community.   “We’ve got a great line up of presentations that will help all businesses improve their services and offering for Australian borrowers,” he said.   Presentations at Pepper Money’s 2016 Insights Roadshow series program include:   Mario Rehayem, Pepper Money’s Director of Sales and Distribution - New research into non-conforming lending market and detailed borrower profiles  Dan Collins, silver medal Olympian – Creating a high performance culture in business Dun & Bradstreet – Comprehensive Credit Scoring, what it means for brokers and how it can be used to increase conversion   Event details:   Adelaide: Convention Centre - Tuesday 31 May, 8.30am - 11.30am Perth: Crown Complex - Wednesday 1 June, 8.30am - 11.30am Brisbane: Moda Events - Wednesday 8 June, 9.30am - 12.30pm Melbourne: Leonda by the Yarra - Friday 10 June, 8.30am - 11.30am Sydney: Waterview Bicentennial Park - Friday 17 June, 8.30am - 11.30am   ENDS  For more information, please contact DEC PR on behalf of Pepper Group: 02 8014 5036 | pepper@decpr.com.au   Pepper Group invests in innovation 2016-04-11T15:30:00Z pepper-group-invests-in-innovation-1   Pepper Group Limited (Pepper), (ASX:PEP) has committed US$1.25m in equity funding to US based, global innovation network, 1776. Pepper was the lead investor in a US$7.2m round of funding.   Founded in February 2013, and based in Washington DC, 1776 looks to foster startups seeking to disrupt regulated fields such as education, energy and sustainability, healthcare, transportation and city planning. Through its incubator program and venture fund 1776 aims to  connect participating start-ups with the right insights, mentors, influencers, industry partners, and investors.   This investment is in addition to Pepper’s existing innovation efforts. In 2015, Pepper established an inhouse innovation team that focuses on improving the customer experience across Pepper’s suite of customer finance and lending products. Pepper’s innovation team will have access to the business opportunities generated by 1776’s startup companies as well as the mentoring services provided by 1776 encompassed in a 5 year partnership agreement.   Commenting on this investment, Pepper’s Co Group CEO, Mike Culhane said “Through our investment in 1776, we are looking to support startup businesses, and in turn, gain access to new and innovative ideas from a range of industries, not just financial services. The idea that the next ‘big thing’ in financial services will come only from another financial services player deserves to be challenged.”   Pepper’s CoGroup CEO, Patrick Tuttle added “At Pepper, we embrace innovation and digital technologies. Our business was founded on the idea of satisfying an unmet need through innovation. In 2001, we realised mortgages did not have to come from banks or other traditional lenders. Pepper secured wholesale funding from Australian banks, applied our own proprietary credit assessment skills and offered home loans to a broad range of customers underserved by traditional lenders.”   In return for committing funding, Pepper’s CoGroup CEO, Mike Culhane will join the board of 1776.   “As 1776 is the vanguard of entrepreneurship in the indispensable sectors that affect every aspect of our lives like health, energy, food, money, transportation and security, we’re thrilled to partner with Pepper Group to extend our global reach, said Evan Burfield, 1776 Cofounder and CoCEO. We’re also excited to welcome Mike Culhane to our board, and our members will benefit tremendously from his expertise in investing in innovation.”   Pepper is 1776’s first Australian financial investor.   For more information, please contact: Melinda Hofman Corporate Affairs Manager Pepper Group Limited (02) 9463 4675 0438 855 991  About Pepper Group Limited Pepper Group Limited (Pepper) is a specialist residential mortgage and consumer lender and loan servicer, operating in targeted market segments in Australia and internationally, many of which are underserviced by traditional bank and other prime lenders. Pepper was established in 2000 and commenced lending as a specialist residential mortgage lender in the Australian market in March 2001. Pepper offers a broad range of lending products including residential mortgages, auto and equipment finance, pointofsale finance and personal loans. Pepper also provides loan servicing for its own products as well as for third parties across residential mortgages, consumer unsecured and secured loans and commercial real estate (CRE) backed loans. Pepper has become a specialist lending and loan servicing group through a combination of organic growth and targeted acquisitions across Australia, New Zealand, Ireland, the United Kingdom, Spain, South Korea, and Hong Kong and China through its 12% equity interest in PrimeCredit.   At 31 December 2015, Pepper had $45.5 billion of assets under management (AUM).  About 1776 1776 is the global innovation network that uncovers promising highly scalable startups focused on solving the world’s most fundamental challenges and helps engineer their success. From its headquarters in Washington, D.C., it is sparking a global movement of highgrowth startups driving meaningful innovation through its Challenge Cup and Startup Federation, the premiere network of incubators throughout the world. For information, please visit www.1776.vc or follow us on Twitter @1776. - ENDS - Pepper joins forces with St Kilda Football Club 2015-11-26T23:17:47Z pepper-joins-forces-with-st-kilda-football-club MEDIA RELEASE  27 November 2015 St Kilda Football Club has spiced up its corporate partnerships by announcing financial services provider Pepper Group Limited (‘Pepper’) as its new principal partner.     As one of Australia’s leading non-bank lenders, with a growing global presence, Pepper offers a range of consumer finance products and services, including home and car loans, and complements St Kilda Football Club’s existing line-up of exciting brand partners. Pepper’s relationship with ‘The Saints’ is in place for the next three years.   Patrick Tuttle, Co-Group CEO of Pepper, said: “As a founding club of the Victorian Football League, St Kilda has a strong heritage in the AFL and Pepper is excited by the opportunity to be associated with such an iconic Australian sporting organisation.    “As a club, The Saints proudly supports ambition, celebrates achievements and encourages all who are connected with it to aspire to its philosophy of ‘How I Want To Be’. These values are mirrored in Pepper’s culture, where we believe that everyone deserves the help and guidance necessary to realise their personal and financial goals.”    St Kilda Football Club CEO, Matt Finnis, welcomed Pepper Group to The Saints: “There is so much positivity surrounding our club and having an international business like Pepper join us and commit to being part of the journey we are taking is fantastic.” Pepper is seeking to boost awareness of its brand in key AFL states nationally and in particular, Victoria. The loyal St Kilda fan base represents the type of customers Pepper typically works with to help them get ahead in life, whatever their circumstances.    As part of the partnership announcement, Pepper will also unveil its new consumer-facing brand ‘Pepper Money’, which will be introduced over the course of 2016.     Commenting on the new brand, Pepper’s Co Group CEO, Mike Culhane said: “Following an extensive, and ongoing, period of acquisition, growth, and an ever-expanding suite of lending products, Pepper is embarking on a comprehensive rebranding exercise to better explain what products we offer to consumers.”   “To be named principal sponsor of St Kilda is a defining moment in Pepper’s story, bringing our brand to a wider audience of sporting fans in Victoria and across Australia, as well as expanding on our existing sporting relationships with the Western Sydney Wanderers and as naming rights sponsor of Pepper Stadium.”   Pepper is the only financial services brand to be associated with St Kilda and shares the principal partnership role with Dare Iced Coffee.    Ends    For more information, please contact DEC PR on behalf of Pepper Group: Joanne McIntosh or Sarah Bullen  02 8014 5036 | pepper@decpr.com.au    About Pepper Group Pepper Group (“Pepper”) is Australia’s largest non-bank residential mortgage lender (as measured by total assets under management), is a leading provider of specialty residential mortgage and consumer financing, and a highly experienced third-party loan servicer and asset manager. Pepper is listed on the Australian Securities Exchange (ASX:PEP) Worldwide, the Group currently has approximately A$36.8 billion of loan and lease assets under management (comprising prime and specialist residential mortgages, commercial mortgages, equipment leases, small business loans, consumer loans and car loans).  Pepper Group now comprises approximately 1,400 employees worldwide and has offices in Sydney, Parramatta, London, Dublin, Shannon, Madrid, Singapore and Seoul. Since establishing itself as a specialist residential mortgage lender in the Australian market in March 2001, Pepper has originated more than A$5.7 billion of specialist residential mortgages in Australia. It also commenced originating commercial auto & equipment finance in April 2013. In August 2011 Pepper acquired GE Capital’s Australian and New Zealand mortgage lending businesses, which comprised a portfolio of approximately A$5.0 billion of Australian and New Zealand residential mortgages. This transaction was one of the largest whole loan transactions in Australian history. Pepper’s current wholesale funding partners in Australia include Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corporation. In addition to lending and servicing its own residential mortgage and consumer finance portfolio, Pepper provides third party primary and special servicing across various types of mortgages, leases and unsecured loan products. Pepper is jointly led by Co-Group Chief Executive Officers, Mike Culhane and Patrick Tuttle. Mike and Patrick are focused on ensuring Pepper continues to leverage its core credit underwriting and loan servicing expertise both in its home market of Australia and other underserved markets in Europe and Asia. Pepper is regulated by the Australian Securities & Investments Commission (“ASIC”) in Australia. Pepper Finance Corporation (Ireland) is regulated by the Central Bank of Ireland (CBI) in Ireland. Pepper Savings Bank is regulated in South Korea by the Financial Supervisory Service (FSS). Pepper is ranked by S&P as a “STRONG” Residential Loan Servicer and is included on S&P’s Global Select Servicer List. PEPPER INVESTS IN GROWTH IN CHINA 2015-05-06T06:17:06Z pepper-invests-in-growth-in-china News Release 6 May 2015 PEPPER INVESTS IN GROWTH IN CHINA Pepper Australia Pty Ltd (“Pepper”) is pleased to announce that it has purchased a 12% stake in PrimeCredit Limited and Shenzhen PrimeCredit Limited (“PrimeCredit”), two leading consumer finance lenders in the Hong Kong and southern China markets.   Pepper is part of an international consortium led by China Travel Financial Holdings Co., Limited (“CTS”) as majority investor and York Capital Management Global Advisors, LLC  (“York”) that today completed the acquisition of the Hong Kong and Shenzhen consumer finance businesses of Standard Chartered plc.   The acquisition broadens Pepper’s footprint in Asia and includes a team of 541 people in Hong Kong and 118 in Shenzhen focusing on origination of personal loans and credit cards, with Assets Under Management of $US1.15 billion.   Pepper also owns a mutual savings bank in South Korea which originates residential mortgages and personal loans through a small retail branch network and a dedicated team of direct sales representatives.   PrimeCredit will extend its already strong Hong Kong market presence into the fast-growing Chinese consumer finance market by leveraging the existing network and local resources of CTS and Pepper’s consumer credit expertise. It will also grow Shenzhen as a hub to build into other regions in China.   PrimeCredit is the leading consumer finance provider in Hong Kong across its peer group of deposit-taking companies and other non-bank financiers. It has a total customer base of more than 132,000 and has strong brand recognition and a commitment to customer service and relationship management similar to that of Pepper.   “This is an exciting next step in the development of our Asian network. Pepper’s team will work closely with our local strategic partner CTS to provide strategic and operational advice to PrimeCredit management to further expand its microfinance business across the Chinese market,” said Patrick Tuttle, Pepper’s Co-Group CEO.   Mike Culhane, Pepper’s Co-Group CEO, added, “We were attracted to these businesses because of their strong customer relationships, market-leading positions, and tremendous growth prospects into mainland China.   “We see great potential to grow them and to add to the products they currently offer.”   “Our 12% stake in both businesses and management role will give us a great insight into what Chinese customers want in terms of products and services.”   ENDS   For more information please contact:DEC PR on behalf of Pepper Group Anna Frilingos / Michael Henderson / Sarah Bullen 02 8014 5036 / pepper@decpr.com.au  About Pepper Group Pepper Group ("Pepper") is Australia's largest non-bank residential mortgage lender (as measured by total assets under management), is a leading provider of specialty residential mortgage and consumer financing, and a highly experienced third-party loan servicer and asset manager. Worldwide, the Group currently has approximately A$28.6 billion of loan and lease assets under management (comprising prime and specialist residential mortgages, commercial mortgages, equipment leases, small business loans, consumer loans and car loans). Pepper Group now comprises approximately 1,200 employees worldwide and has offices in Sydney, Parramatta, London, Dublin, Shannon, Madrid, Singapore and Seoul. In August 2011 Pepper acquired GE Capital's Australian and New Zealand mortgage lending businesses, which comprised a portfolio of approximately A$5.0 billion of Australian and New Zealand residential mortgages. This transaction was one of the largest whole loan transactions in Australian history. Pepper's current wholesale funding partners in Australia include Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corporation. In addition to lending and servicing its own residential mortgage and consumer finance portfolio, Pepper provides third party primary and special servicing across various types of mortgages, leases and unsecured loan products. Pepper is jointly led by Co-Group Chief Executive Officers, Mike Culhane and Patrick Tuttle. Mike and Patrick are focused on ensuring Pepper continues to leverage its core credit underwriting and loan servicing expertise both in its home market of Australia and other underserved markets in Europe and Asia. Pepper is regulated by the Australian Securities & Investments Commission ("ASIC") in Australia. Pepper Finance Corporation (Ireland) is regulated by the Central Bank of Ireland (CBI) in Ireland. Pepper Savings Bank is regulated in South Korea by the Financial Supervisory Service (FSS). Pepper is ranked by S&P as a "STRONG" Residential Loan Servicer and is included on S&P's Global Select Servicer List. Recent award wins for Pepper include: 2015 Australian Lending Awards Best Specialist Lender and Best Self-Employed Lender, The Adviser 2015 Non-Bank Lending Awards Best Broker Service and Best Customer Service, and CEO Magazine Financial Services Executive of the Year 2014 for Patrick Tuttle. Pepper invests heavily in brokers’ specialist lending knowledge 2014-08-27T07:04:26Z pepper-invests-heavily-in-brokers-specialist-lending-knowledge Lender launches new eLearning Hub with improved functionality New Specialist Lending module announced P&O four-night cruise up for grabs 27 August 2014: – Pepper Australia Pty Limited (“Pepper”) has today relaunched its Better Business eLearning Hub with a new module dedicated to Specialist Lending, the second module for 2014. Following its successful launch in 2013, Pepper’s professional education program continues to assist brokers who want to build stronger relationships with their clients, enhance their business marketing as well as earn hours towards their Continuing Professional Development (CPD).   Mario Rehayem, Pepper’s director of sales, said: “Pepper is committed to supporting the broking industry, and due to the successful uptake of our learning platform, we have further invested into our Better Business program. The eLearning Hub will significantly help brokers become better marketers and improve their customer relationships. Brokers have told us that they want to know how to best approach writing specialist loans, and this new module provides Pepper’s insights which will allow brokers to approach specialist lending in a more confident way. We are delighted to provide these tools and techniques to brokers to increase their competency in specialist lending, sharing what we know best.” said Mr Rehayem.   The revamped eLearning Hub allows Pepper accredited brokers to use their pepperonline.com.au login credentials to gain access, track their progress on each available module and provide suggestions on what content they would like to see Pepper develop next. “Pepper has made a large investment into the program to ensure a best in class online learning experience for brokers because we believe quality education is what will enable the mortgage broking profession to continue to thrive,” said Mr Rehayem.  Specialist Lending Module The release of the Specialist Lending module is the newest addition to the existing suite within the Better Business eLearning Hub, which features and currently includes; ‘The Relationship Management Process’, ‘Creating Your Compelling Value Proposition’ ‘Interviewing Clients to Understand Their Needs’ and ‘Creating Effective Business Plans’. Each module is made up of a series of short online videos and downloadable content designed to provide practical tips to assist with improving client processes.   The new Specialist Lending module is a unique, comprehensive training program that takes brokers through a five-step process on how to position a specialist home loan with a customer expecting a prime rate, covering all the essentials of specialist lending. The module features tips and tutorials for brokers on how to deal with certain borrowers who may not meet traditional lending requirements, and how brokers can use Pepper’s five- step process to successfully present a specialist home loan solution to suit a client’s needs.  Sail away with Specialist Lending To celebrate the launch of the new Specialist Lending Module and the re-launch of the eLearning Hub, Pepper is offering brokers the opportunity to win a four-night P&O cruise for two people to Moreton Island. All brokers have to do is become accredited with Pepper, complete the new Module on the Pepper website, and they’ll automatically go into the draw to win. Entries close on 30 September 2014.   Brokers are encouraged to gain the confidence needed to write specialist loans. Pepper believes that the Better Business Education Program and the new Specialist Lending Module is a key asset that will see brokers excel in this space.   Brokers will be able to access Better Business Program and eLearning Hub via pepperonline.com.au/betterbusiness - ENDS - For further information please contact:DEC PR on behalf of Pepper Anna Frilingos / Sarah Bullen / Michael Hendersonpepper@decpr.com.au 02 8014 5033 Pepper Residential Securities Trust No.12 Prices $500m Non-Conforming RMBS Issue 2014-04-22T00:23:00Z pepper-residential-securities-trust-no-12-prices-500m-non-conforming-rmbs-issue Pepper Australia Pty Limited (“Pepper”) and Joint Lead Managers, Commonwealth Bank of Australia (AUD Arranger and Currency Swap Provider) and National Australia Bank (USD Arranger and Redemption Facility Provider), today confirmed that the Pepper Residential Securities Trust No. 12 (“PRS12”) A$500 million (equivalent) non-conforming RMBS issue has priced. Transaction details are as follows: Class of Notes ProvisionalRatingsS&P / Moody’s Issue Amount(Million) WAL (Years) 1. Issue Margin   A1-u1 A-1+(sf) / P-1(sf) US$200 1.0 1m Libor + 0.35% A1-a AAA(sf) / Aaa(sf) A$136.0 2.5 30 Day BBSW +1.10% A-2 AAA(sf) / Aaa(sf) A$52.5 2.5 30 Day BBSW +1.50%   AA(sf) / NR A$26.5 4.4 30 Day BBSW +2.00% C A(sf) / NR A$25.5 4.4 Undisclosed D BBB(sf) / NR A$18.0 4.4 Undisclosed E BB(sf) / NR A$11.5 4.4 Undisclosed F B(sf) / NR A$8.0 3.6 Undisclosed G Not Rated A$8.0 5.1 Undisclosed The estimated WAL for each Note Class is based on full amortisation with a CPR of 20% p.a. for the first 18 months and 25% p.a. thereafter, the Stepdown Criteria being met from the earliest possible date and the Trust Manager Call Option being exercised at the earliest possible date. All tranches were priced at par. Settlement Date:              Thursday, 24 April 2014 Clean Up Call:              Any Payment Date occurring: From April 2019 (i.e. 5 years); or When the aggregate Invested Amount of the Notes outstanding is less than 20% of the aggregate initial Invested Amount of the Notes. Commonwealth Bank of Australia and National Australia Bank Limited were the Joint Lead Managers of the AUD denominated tranches and NAB Securities LLC and Jeffries LLC were the Joint Lead Managers of the USD denominated A1-u1 tranche. The transaction is Pepper’s first public RMBS issue for 2014. It is also Pepper’s third 144A compliant issue into the US market, with the A1-u1 tranche structured with a one year legal final maturity to appeal to US 2A7 money market funds.  Significantly though, it is the first time Pepper has placed a non-conforming issue into the US market. “The inclusion of a USD tranche in our PRS non-conforming program marks another significant milestone in the long history of non-conforming issuance by Pepper, dating back to 2003. The participation of US investors, along with a small number of European investors, in our non-conforming program helps to further diversify our offshore investor base, which is vital for a frequent RMBS issuer like Pepper,” said Pepper’s Co-Group Chief Executive Officer, Patrick Tuttle.  “Based on the strong response to our two previous prime mortgage backed issues, we were confident that the US investor base would also find this offering appealing.  That said, we are thrilled with the broad investor participation in the PRS12 USD tranche. We are also delighted with the strong support that we continue to receive from loyal repeat Australian institutions, with each of the AUD tranches pricing inside the equivalent PRS 11 margins set in October 2013”, added Tuttle. “The PRS12 issue was well supported by investors across the entire capital structure, with a total of 14 domestic and 7 foreign investors participating, many of whom are repeat buyers. Our track record and commitment to always call our term deals at the first available date, continues to attract strong support from investors, and we are now developing repeat buying from a number of US and European investors” said Pepper Group Treasurer, Todd Lawler.  “This transaction demonstrates that there is genuine investor demand for Australian non-conforming RMBS paper from quality issuers with strong servicing and asset performance history.  For PRS12 we were also able introduce some first-time investors to Pepper’s non-conforming programme who had only previously participated in our prime transactions.  This is a strong endorsement of Pepper’s business model, the credit quality of the underlying loan collateral and our expertise as a specialist mortgage servicer” added Lawler. “This is a benchmark transaction for Pepper, entering the US market with non-conforming assets for the first time. New investor participation as well as significant demand from repeat buyers facilitated a tightening in price across all tranches and an increase in volume compared to their two 2013 Non-conforming RMBS trades.” said Rob Verlander, Head of Debt Markets Securitisation at Commonwealth Bank of Australia. "This is the largest Australian pure non-conforming RMBS transaction completed since the financial crisis” said Sarah Samson, Director, Debt Markets, National Australia Bank Limited. “There was a healthy level of oversubscription across all of the AUD and USD tranches, and it is great for Pepper to be able to call on the US investor market to enable this larger transaction size and pricing”. Pepper is a diversified financial services business with specialist experience in lending, advisory and asset management across the residential, auto and equipment and commercial property sectors. It is a specialist servicer of prime and non-conforming residential mortgages and consumer loan and lease receivables.  PRS12 is the fourteenth public issue of residential mortgage-backed securities backed by Pepper owned and serviced mortgages, increasing its total RMBS issuance to A$5.2 billion. ENDS For further information please contact: DEC PR on behalf of Pepper Australia: Anna Frilingos / Michael Henderson pepper@decpr.com.au / 02 8014 5036 Rob Verlander               Head of Debt Markets Securitisation               Commonwealth Bank of Australia              Tel: 02 9118-1228              Sarah Samson Director National Australia Bank Tel: 03 8641-4860 About Pepper – key facts Pepper Group (“Pepper”) is Australia’s largest non-bank residential mortgage lender (as measured by total assets under management), is a leading provider of specialty residential mortgage and consumer financing, and a highly experienced third-party loan servicer and asset manager. Worldwide, with the recently announced UK acquisition of Oakwood Global Finance (to be renamed Pepper UK), the Group currently has approximately A$13.5 billion of loan and lease assets under management (comprising residential mortgages, commercial mortgages, equipment leases, small business loans, unsecured consumer loans and car loans). Pepper Group now comprises approximately 750 employees worldwide and has offices in Sydney, Parramatta, London, Dublin, Shannon, Madrid, Singapore and Seoul. Since establishing itself as a specialist residential mortgage lender in the Australian market in March 2001, Pepper has originated more than A$4.2 billion of specialist residential mortgages in Australia.  It also commenced originating commercial auto & equipment finance in April 2013. In August 2011 Pepper acquired GE Capital’s Australian and New Zealand mortgage lending businesses, which comprised a portfolio of approximately A$5.0 billion of Australian and New Zealand residential mortgages. This transaction was one of the largest whole loan transactions in Australian history. Pepper’s current wholesale funding partners in Australia include Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corporation. In addition to lending and servicing its own residential mortgage and consumer finance portfolio, Pepper provides third party primary and special servicing across various types of mortgages, leases and unsecured loan products. Pepper is jointly led by Co-Group Chief Executive Officers, Mike Culhane and Patrick Tuttle.  Mike and Patrick are focused on ensuring Pepper continues to leverage its core credit underwriting and loan servicing expertise both in its home market of Australia and other underserved markets in Europe and Asia. Pepper is regulated by the Australian Securities & Investments Commission (“ASIC”) in Australia.  Pepper Finance Corporation (Ireland) is regulated by the Central Bank of Ireland (CBI) in Ireland.  Pepper Savings Bank is regulated in South Korea by the Financial Supervisory Service (FSS). Pepper is ranked by S&P as a “STRONG” Residential Loan Servicer and is included on S&P’s Global Select Servicer List. Pepper Australia is pleased to announce that Standard & Poor’s (“S&P”) has affirmed its “STRONG” Sub-prime Residential Loan Servicer Ranking 2014-03-17T00:08:00Z pepper-australia-is-pleased-to-announce-that-standard-amp-poor-s-s-amp-p-has-affirmed-its-strong-sub-prime-residential-loan-servicer-ranking Media Release 17 March 2014 Pepper Australia Pty Limited (“Pepper”) is pleased to announce that Standard & Poor’s (“S&P”) has affirmed its “STRONG” Sub-prime Residential Loan Servicer Ranking and has also assigned a “STRONG” Prime Residential Loan Servicer Ranking to the Company for the first time.   This is the highest loan servicer ranking assigned by Standard & Poor’s.  They have also assigned “STRONG” sub-rankings for Pepper’s “Management and Organisation” and “Loan Administration”. S&P commented: “The STRONG subprime and prime residential loan servicer rankings reflect Pepper’s continued solid servicing quality and key servicer strengths, which include its: Well-established position as a primary servicer of subprime residential mortgage loans, with a high degree of industry knowledge and proficiency in the Australian servicing market; Experienced senior management team that leads a well-qualified and skilled workforce; Solid loan-processing and servicing infrastructure, which provides Pepper with an end-to-end integrated approach to loan origination, servicing, and management; and Robust internal audit framework and quality assurance program.” S&P also highlighted the extensive experience of Pepper’s board of directors and key members of its senior management team in residential mortgage origination and servicing in Australia and various offshore markets.  “Standard & Poor's believes the company's high levels of internal controls and astute processing, underwriting and servicing performance objectives are aligned with its servicing philosophy.  Pepper has maintained superior arrears-management and loss-mitigation strategies”, S&P added. “We welcome S&P’s acknowledgment of the quality and strength of our residential loan servicing operations and are especially pleased that we now have a STRONG Prime loan servicer ranking to complement our STRONG non-conforming ranking.  These rankings are a reflection of our professionalism and commitment to high standards in all aspects of our loan origination and servicing processes and to the quality and experience of our staff” said Pepper’s Co-Group Chief Executive Officer, Patrick Tuttle. Pepper is a diversified financial services business with specialist experience in lending, advisory and asset management across the residential and commercial property sectors in Australasia and Europe. Commencing operations in 2001, Pepper has over 13 years of experience as a specialist servicer of prime and non-conforming residential mortgages and consumer loan and lease receivables.  Pepper is a regular issuer of residential mortgage-backed securities backed by Pepper-owned and serviced mortgages, having completed 13 publicly distributed RMBS issues totalling A$4.4 billion since 2003. ENDS  For further information please contact: DEC PR on behalf of Pepper Anna Frilingos / Sarah Buchanan pepper@decpr.com.au 02 8014 5036 / 02 8014 5039 PEPPER EXERCISES CALL OPTION ON PEPPER RESIDENTIAL SECURITIES TRUST NO.8 (“PRS8”) TRANSACTION 2014-01-13T00:17:00Z pepper-exercises-call-option-on-pepper-residential-securities-trust-no-8-prs8-transaction 14 January 2014 Pepper Australia Pty Limited (“Pepper”) has today announced that it has exercised its call option (“the call”) on the Pepper Residential Securities Trust No.8 (“PRS8”). The call was exercised and refinancing completed on 10 January 2014. The total loan portfolio held within PRS8 at the call date was approximately $108.5 million. This is the eighth call option exercised by Pepper. The exercise of the call enabled PRS8 to fully repay the following notes initially purchased by investors on 23 December 2010: Class of Notes Current Standard & Poor’s Rating  Note Balance At Issue Date ($’000)  Note Balance  At Call Date ($’000) Class A1 Notes: AAA 26,000 - Class A2 Notes:  AAA 78,000 - Class A3 Notes: AAA 97,500 46,882 Class B Notes: Non-Rated 24,700 24,700 Class C Notes: Non-Rated 11,700 11,700 Class D Notes: Non-Rated 9,100 9,100 Class E Notes: Non-Rated 6,500 6,500 Class F Notes: Non-Rated 6,500 6,500 Class L Notes: Non-Rated 3,500  -                                                       Pepper’s ability to complete the PRS8 call once again demonstrates it’s capacity and commitment to refinance high quality residential mortgage assets in accordance with investor expectations. “Fixed income investors need comfort that RMBS issuers have the financial capacity, and indeed intention, to fund call options on all RMBS issues which they sponsor”, said Pepper’s Co-Group Chief Executive Officer, Patrick Tuttle.  “Pepper’s capacity and desire to complete the call demonstrates our ongoing commitment to satisfying the intended refinancing obligations for all RMBS transactions in which we retain an underlying beneficial interest.  This is the only tangible way in which we can give our programme investors genuine confidence in the expected weighted average lives of securities which we issue into the market”, said Tuttle. “We genuinely believe that investors will view our calling of the PRS8 transaction in a favourable light, and that it will further enhance Pepper’s reputation as a programmatic issuer and servicer of high quality mortgage-backed securities”, added Tuttle.     ABOUT PEPPER Pepper is a diversified, global financial services business with specialist experience in Lending, Advisory and Asset Management across residential and commercial property sectors. Pepper’s combined business activities in Australia, New Zealand, Europe and Asia include: Origination and servicing of consumer finance assets (home loans, car loans, equipment leases), and commercial assets (small-balance commercial loans, equipment finance and mezzanine debt); Acquiring whole loan portfolios across a range of consumer and commercial asset classes on an opportunistic basis (e.g. residential mortgages, auto loans, equipment leases); Providing third-party asset management and loan servicing to external parties on a fee-for-service basis; Providing tenant representation and strategic advisory services to the corporate real estate (CRE) sector. Pepper has been operating in Australia since early 2001 and has completed 13 publicly rated issues of residential mortgage-backed securities (RMBS) for a total value of $4.4 billion since inception. Pepper also currently manages and services a combined asset portfolio of approximately $14.3 billion. For further information please contact: DEC PR on behalf of Pepper AustraliaAnna Frilingos / Natalie Cameron02 8014 5036 / 8014 5035 Pepper Group Responds to 18 October 2013 Announcement by RHG Limited 2013-10-25T04:53:00Z pepper-group-responds-to-18-october-2013-announcement-by-rhg-limited Media ReleasePepper Group Friday, 25 October 2013 Pepper Australia Pty Limited (“Pepper”) has today responded to a media release made by RHG Limited (ASX Code: RHG) on Friday, 18 October 2013. In that media release RHG confirmed that it had reached agreement with the Resimac Syndicate on the key terms of a revised offer (the “Revised Offer”) which included an increased cash offer to all RHG shareholders of 50.1 cents per share. Specifically, the media release stated: “The Revised Offer provides a certain and equal cash value for all shareholders and is supported by the RHG Board in the absence of a superior proposal”. Pepper’s Co-Group Chief Executive Officer, Patrick Tuttle, commented: “In the interests of providing certainty to all of RHG’s shareholders, many of whom have supported the Company since its initial ASX listing in 2007, Pepper and Cadence Capital Limited (“CDM”) (together the “Pepper Syndicate”) have decided to withdraw their offer (the “Pepper Offer”) dated 6 September 2013”. He added: “Despite our belief that the Pepper Offer remains clearly superior to the Revised Offer made by the Resimac Syndicate last Friday, the RHG Board has decided to approve it within 3 days of its receipt, despite having been in possession of the latest Pepper Offer since 6 September. For a period of nearly 6 weeks the RHG Board has made no attempt to engage with Pepper in any meaningful way. In fact, Pepper has not once met with any of RHG’s independent directors since competition for control of the Company began over six months ago”. As highlighted by Mike Culhane, Pepper’s Co-Group Chief Executive Officer: “We can only assume that by increasing its cash offer to 50.1 cents per share the Resimac Syndicate was of the opinion that the Pepper Offer was clearly superior to their previous offer for the Company”. “It is inconceivable that, for close to 6 weeks, the RHG Board was in receipt of a superior proposal but failed to take any positive steps to explore whether agreement could be reached on the terms of our proposal. Yet, surprisingly, they were able to promptly respond, within 3 days, of receiving the Revised Offer from the Resimac Syndicate”, said Culhane. Patrick Tuttle further commented: “At no stage during this process has the RHG Board made a genuine effort to engage with the Pepper Syndicate. The only inference that can be drawn from this behaviour is that the Board has been solely focused on doing a deal with the Resimac Syndicate. On this basis, and given our view that the economic value to Pepper of RHG’s loan book has materially deteriorated due to the prolonged period of time taken by the RHG Board to bring this process to a successful conclusion, we have no alternative but to withdraw our offer”. He added: “We believe that Pepper will be better served by focusing on our own direct origination strategy in prime residential mortgages in Australia which will enable us to provide a broader range of residential lending products, including prime, near prime and specialist residential mortgages. Our product range will also be differentiated by the fact that we will not rely on Lender’s Mortgage Insurance (“LMI”) as the primary source of credit enhancement, thereby offering a more efficient, streamlined credit approval process for our broker and white-label distribution partners”. Culhane concluded by saying: “Pepper is currently reviewing a range of potential investments across both Australia and Europe, so we feel our time and resources will be better utilised in focusing on these alternative opportunities”. – Ends – For more information please contact:(Australia & Asia Pacific) Anna Frilingos / Michael HendersonDEC Public Relations for Pepper Australia02 8014 5036 / (02) 8014 5035pepper@decpr.com.au About Pepper – Key FactsPepper Group (“Pepper”) is Australia’s largest non-bank residential mortgage lender (as measured by total assets under management), a leading provider of specialty residential mortgage and consumer financing and a highly experienced third-party loan servicer and asset manager.Worldwide, with the recently announced Oakwood transaction the company currently has approximately A$13.5 billion of loan and lease assets under management (comprising residential mortgages, commercial mortgages, equipment leases, small business loans, unsecured consumer loans and car loans). Since establishing itself as a specialist residential mortgage lender in the Australian market in March 2001, Pepper has originated more than A$4.3 billion of specialist residential mortgages in Australia. In 2011 Pepper acquired GE Capital’s Australian and New Zealand mortgage lending businesses, which comprised a portfolio of approximately A$5.0 billion of Australian and New Zealand residential mortgages. This transaction was one of the largest whole loan transactions in Australian history.Pepper’s current wholesale funding partners in Australia include Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corporation.In addition to lending and servicing its own mortgage portfolio, Pepper provides third party servicing of various types of mortgages, leases and unsecured loan products.Pepper is jointly led by its Co-Group Chief Executive Officers, Patrick Tuttle and Mike Culhane. Patrick and Mike are focused on ensuring Pepper continues to leverage its core credit underwriting and loan servicing expertise both in its home market of Australia and other underserved markets in Europe and Asia.Pepper is ranked by S&P as a “STRONG” Residential Loan Servicer and is included on S&P’s Global Select Servicer List. Pepper Group Announces Acquisition of South Korean Savings Bank, Formerly Evergreen Savings Bank 2013-10-20T23:50:00Z pepper-group-announces-acquisition-of-south-korean-savings-bank-formerly-evergreen-savings-bank-1 Pepper GroupMonday, 21 October 2013 Mutual Savings Bank will commence trading under “Pepper Savings Bank” brand from Monday, 21 October 2013Pepper Group’s first acquisition in South Korea and the first Korean bank to be owned by an Australian institutionFormer Standard Chartered Bank executive, Mr Matthew Chang, appointed as Chief Executive Officer of Pepper Savings Bank Pepper Group (“Pepper”) today announced that it has completed the acquisition of a South Korean mutual savings bank. Founded in 1982, Evergreen Savings Bank has 2 retail branch locations in Ansan and Bundang, close to the South Korean capital in Seoul. The Bank currently has 29 employees, approximately 30,000 active customers, total assets of 186,955,298,473 KRW (US$175.9 Million) (including a corporate loan portfolio), and is primarily funded by customer deposits of 161,838,790,376 KRW (US$152.2 Million). With respect to the application for the purchase of shares in Evergreen Savings Bank (to be renamed “Pepper Savings Bank”) by PSB Investment Holdings Pty Ltd (a Pepper Group-controlled entity), the Financial Services Commission (“FSC”) in South Korea approved Pepper’s application in accordance with Article 10-6 of the Mutual Savings Bank Act and Article 7-4 of the Enforcement Decree of the same Act on 16 October 2013. The mutual savings bank (MSB) sector in South Korea was initially enacted via Government legislation in the early 1970s to facilitate competition in the South Korean banking market, promoting the delivery of traditional retail banking services (eg customer deposits, home loans, personal loans, auto loans, and small business loans) to individual households and small business owners across all regions within South Korea. At its peak, the MSB sector comprised over 300 active mutual savings banks. Real estate lending, particularly project finance loans, led to the downfall of many mutual savings banks when defaults increased following the global financial crisis in 2008. Today, there are less than 100 active mutual savings banks operating in South Korea. Pepper Group Co-CEO, Patrick Tuttle, commented: “We have been closely monitoring the mutual savings bank sector in South Korea for more than two years, looking for the right opportunity to invest in an established platform with a sound customer base and balance sheet. After completing detailed financial and legal due diligence on Evergreen Savings Bank, we believe we are acquiring a solid platform from which to launch a more traditional retail banking strategy in South Korea, with a view to taking the Bank back to more grass roots consumer and small business lending, backed by a competitive retail deposit book”. As explained by Mike Culhane, Pepper’s Co-Group CEO: “This acquisition marks Pepper’s first foray into the Asian financial services market. Evergreen Savings Bank, to be renamed “Pepper Savings Bank” from today, is the first mutual savings bank in South Korea to be acquired by an Australian institution. It is also the first regulated retail bank to be owned within the Pepper Group which is an important and exciting milestone for us in the context of our overall strategy”. According to Patrick Tuttle: “We have deliberately acquired a relatively small savings bank in terms of branches, employees and total balance sheet size in order to avoid many of the legacy problem loan issues that have been experienced by a number of MSBs in the past few years. We have also identified a world class executive team to be led by Matthew Chang who we strongly believe will deliver best-in-class management expertise to a sector which has faced considerable public and regulatory scrutiny as a result of poor management practices over the past few years. Pepper Group will also leverage its deep international experience in consumer lending, loan servicing, treasury management and risk management to deliver strong corporate governance and regulatory oversight of Pepper Savings Bank’s future business activities”. Pepper’s Korean business is led by Matthew Chang, CEO, who joins Pepper with over 20 years’ experience within retail and commercial banking in South Korea and the United States, including holding key executive roles within Standard Chartered First Bank, Korea. Mike Culhane further commented: “This acquisition is highly strategic for Pepper and will enable us to establish a long-term presence in South Korea. The opportunity to establish a retail savings bank, led by a strong local management team, will enable Pepper to leverage its core skills in credit underwriting and asset management in a financial services market with strong regulatory controls and a proven appetite for competitive consumer deposit and lending products”. – Ends – For more information please contact: (Australia & Asia Pacific) DEC Public Relations for Pepper AustraliaAnna Frilingos / Michael Henderson 02 8014 5036 / 02 8014 5033pepper@decpr.com.au About Pepper – Key Facts Pepper Group (“Pepper”) is Australia’s largest non-bank residential mortgage lender (as measured by total assets under management), is a leading provider of specialty residential mortgage and consumer financing, and a highly experienced third-party loan servicer and asset manager.Worldwide, with the recently announced UK acquisition of Oakwood Global Finance (to be renamed Pepper UK), the Group currently has approximately A$13.5 billion of loan and lease assets under management (comprising residential mortgages, commercial mortgages, equipment leases, small business loans, unsecured consumer loans and car loans).Pepper Group now comprises approximately 675 employees worldwide and has offices in Sydney, Parramatta, London, Dublin, Shannon, Madrid, Singapore and Seoul.Since establishing itself as a specialist residential mortgage lender in the Australian market in March 2001, Pepper has originated more than A$4.2 billion of specialist residential mortgages in Australia. It also commenced originating commercial auto & equipment finance in April 2013.In August 2011 Pepper acquired GE Capital’s Australian and New Zealand mortgage lending businesses, which comprised a portfolio of approximately A$5.0 billion of Australian and New Zealand residential mortgages. This transaction was one of the largest whole loan transactions in Australian history.Pepper’s current wholesale funding partners in Australia include Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corporation.In addition to lending and servicing its own residential mortgage and consumer finance portfolio, Pepper provides third party primary and special servicing across various types of mortgages, leases and unsecured loan products.Pepper is jointly led by Co-Group Chief Executive Officers, Mike Culhane and Patrick Tuttle. Mike and Patrick are focused on ensuring Pepper continues to leverage its core credit underwriting and loan servicing expertise both in its home market of Australia and other underserved markets in Europe and Asia.Pepper is regulated by the Australian Securities & Investments Commission (“ASIC”) in Australia. Pepper Finance Corporation (Ireland) is regulated by the Central Bank of Ireland (CBI) in Ireland. Pepper Savings Bank is regulated in South Korea by the Financial Supervisory Service (FSS).Pepper is ranked by S&P as a “STRONG” Residential Loan Servicer and is included on S&P’s Global Select Servicer List. Pepper Prices PRS11 2013-10-17T07:49:00Z pepper-prices-prs11 Press Release17 October 2013 Pepper Australia Pty Limited (“Pepper”) and Joint Lead Managers, Commonwealth Bank of Australia (ABN 48 123 123 124) and National Australia Bank, confirm that the Pepper Residential Securities Trust No. 11 (“PRS11”) A$350 million non-conforming RMBS issue has priced. Transaction details are as follows: Class of NotesPreliminary RatingsS&P/FitchIssue Amount(A$Million)WAL(Years) 1.Issue Margin (over 30 Day BBSW)A-1AAA(sf)/AAAsf227.502.4+1.20%A-2AAA(sf)/AAAsf48.652.4+1.65% AA(sf)/NR19.954.4+2.40%CA(sf)/NR18.554.4UndisclosedDBBB(sf)/NR13.304.4UndisclosedEBB(sf)/NR9.454.2UndisclosedFB(sf)/NR6.302.1UndisclosedGNot Rated6.305.1Undisclosed The estimated WAL for each Note Class is based on full amortisation with a CPR of 20% p.a. for the first 18 months and 25% p.a. thereafter, the Stepdown Criteria being met from the earliest possible date and the Trust Manager Call Option being exercised at the earliest possible date. All tranches were priced at par. Settlement Date: Tuesday, 22 October 2013 Clean Up Call: Any Payment Date occurring:After the date which is five years after the Settlement Date; orWhen the aggregate Invested Amount of the Notes outstanding is less than 20% of the aggregate initial Invested Amount of the Notes. The transaction is Pepper’s second non-conforming and third RMBS issue for 2013. “This deal is a continuation of the long history of non-conforming issuance by Pepper which dates back to 2003. Our track record and commitment to always call our term deals at the first available date, continues to attract strong support from investors,” said Pepper’s Group Treasurer, Todd Lawler. “The issue was extremely well supported by a total of 11 domestic and two offshore investors, many of whom are repeat buyers. We were particularly pleased with the extension of the tenor of the issue from a 4 year to a 5 year maturity”, added Lawler. This transaction further demonstrates the strong support for the Pepper name in RMBS markets among both domestic and offshore investors. It also reflects the strength and resilience of our business in being able to fund ongoing volume growth through regular, programmatic issuance of both prime and non-conforming RMBS, said Pepper’s Group Managing Director & CEO, Patrick Tuttle. “We were also able to successfully launch and price the PRS11 transaction in the backdrop of the considerable market uncertainty surrounding the ongoing Congressional debate in relation to the US debt ceiling limit”, added Tuttle. “This is the second Pepper non-conforming transaction for the year, and it follows a Pepper prime transaction that was completed in August. This result demonstrates that there is significant support from investors for quality non-conforming RMBS across the rating spectrum” said Rob Verlander, Head of Debt Markets Securitisation at Commonwealth Bank of Australia. “We are particularly pleased with the pricing, especially as Pepper has been able to issue five year paper for this deal. The transaction was well bid, enabling the deal to be upsized on pricing”, said Sarah Samson, Director, Securitisation, at National Australia Bank. Pepper is a diversified financial services business with specialist experience in lending, advisory and asset management across the residential and commercial property sectors. It is a specialist servicer of prime and non-conforming residential mortgages and consumer loan and lease receivables. PRS11 is the thirteenth public issue of residential mortgage-backed securities backed by Pepper owned and serviced mortgages, increasing its total RMBS issuance to A$4.4 billion. ENDSFor further information please contact: DEC PR on behalf of Pepper Australia02 8014 5036pepper@decpr.com.auRob VerlanderHead of Debt Markets Securitisation, CBA02 9118 1228Sarah SamsonDirector, NAB03 8641 4860 Pepper Responds to Joint Resimac - AMAC Press Release Dated 11 September 2013 2013-09-12T23:45:00Z pepper-responds-to-joint-resimac-amac-press-release-dated-11-september-2013 Press ReleaseFriday, 13 September 2013Sydney, Australia Australian specialist financial services group, Pepper Australia Pty Limited (“Pepper”) has today responded to a joint press release made by Resimac Limited (“Resimac”) and Australian Mortgage Acquisition Company Pty Limited (“AMAC”) (together the “Resimac Syndicate”) on Wednesday, 11 September 2013. Pepper’s Group Managing Director & CEO, Patrick Tuttle, commented: “Given the highly speculative and subjective nature of the statements published in the Resimac Syndicate’s press release on Wednesday, we feel compelled to set the record straight. The Resimac-AMAC press release contains a number of supposedly factual statements clearly intended to unduly influence the Board of RHG Limited (“RHG”) to dismiss the proposal submitted by Pepper and Cadence Capital Limited (“Cadence”) (together the “Pepper Syndicate”) on Friday, 6 September”. Tuttle added, “Their comments around the purported preferentiality, conditionality and uncertainty of our bid are entirely self-serving. Whilst we acknowledge the clear differences between our proposal to acquire RHG and the competing all cash offer made by the Resimac Syndicate, it is preposterous to suggest that our cash and scrip offer is simply inferior by definition, unless of course they are asserting that ASX-listed shares in the form of Cadence (“CDM”) stock have no economic value. This is a convenient and, at best, simplistic argument. We believe we have presented RHG’s shareholders with a highly credible and straightforward proposition which values RHG at 51 cents per share based on yesterday’s CDM closing price of $1.50. This compares to the lower all cash offer of 49.5 cents per share offered by the Resimac Syndicate”. Pepper’s Executive Chairman, Mike Culhane, explained: “There have been a number of inaccurate statements made about the supposed conditionality of the Pepper Syndicate’s proposal which are clearly designed to discredit our proposal in the eyes of the RHG Board and its shareholders. Rather than play the man, we prefer to focus on the facts. And the facts are that our proposal provides an obviously higher value for RHG shareholders”. Patrick Tuttle, added further that: “We have the utmost confidence in the integrity of our proposal and the genuine, and higher value, which it offers to all RHG shareholders. At the end of the day, in a competitive process, the RHG Board has a duty to act in the best interests of its shareholders. That is all that matters”. Mike Culhane concluded: “As we have previously stated, we welcome the opportunity to discuss the merits of our improved proposal with the RHG Board at their earliest convenience”. -Ends- For more information please contact:Natalie Cameron / Anna FrilingosDEC Public Relations for Pepper Australia02 8014 5035 / (02) 8014 5036pepper@decpr.com.au Notes to editors:Pepper Australia Pty Limited (“Pepper”) is a highly experienced specialty mortgage lender, third-party loan servicer, and asset manager. Our underwriting philosophy, credit, loan servicing, collections and asset recovery procedures have been developed on the basis of more than 19 years of specialist mortgage lending experience, tried and tested in the United Kingdom and Australia. About Pepper – Key FactsPepper Group (“Pepper”) is Australia’s largest non-bank residential mortgage lender (as measured by total assets under management), a leading provider of specialty residential mortgage and consumer financing and a highly experienced third-party loan servicer and asset manager.Worldwide, the company currently has approximately A$9.1 billion of loan and lease assets under management (comprising residential mortgages, commercial mortgages, equipment leases, small business loans, unsecured consumer loans and car loans).Since establishing itself as a specialist residential mortgage lender in the Australian market in March 2001, Pepper has originated more than A$4.0 billion of specialist residential mortgages in Australia.In 2011 Pepper acquired GE Capital’s Australian and New Zealand mortgage lending businesses, which comprised a portfolio of approximately A$5.0 billion of Australian and New Zealand residential mortgages. This transaction was one of the largest whole loan transactions in Australian history.In June 2012, Pepper established Pepper Asset Servicing in Ireland, having acquired the Irish mortgage business of GE Capital which included 3,500 Irish mortgage accounts and €650 million in receivables. At the time the company also assumed responsibility for the servicing of GE Capital’s Irish portfolio of personal, small enterprise and auto loans. Since then the company has invested significantly in the Irish operation and recently announced it had been appointed by CarVal Investors to provide special servicing, master servicing and asset management on the €380 million Pittsburgh portfolio of loans CarVal Investors acquired from Lloyds in December 2012.More recently the Irish business has been awarded servicing mandates from Danske Bank and the Irish government to manage pools of residential and commercial mortgage assets.In July 2012, Pepper acquired Grant Samuel Holdings Limited real estate advisory business, which was renamed Pepper Property. Pepper Property is a leading real estate investment and advisory group that delivers independent, high quality strategic advice to the corporate real estate (CRE) sector, tenant representation services, capital structuring, divestments and acquisitions, and investment management services.In March 2013, Pepper established Pepper Spain in Madrid having acquired the Celeris servicing and origination platform from shareholders consisting of a number of Spanish banks and building societies. Along with the platform of 122 people Pepper acquired a €290 million personal loan portfolio.Pepper’s current wholesale funding partners in Australia include Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corporation.In addition to lending and servicing its own mortgage portfolio, Pepper provides third party servicing of various types of mortgages, leases and unsecured loan products.Pepper is jointly led by Executive Chairman, Mike Culhane, and Group ManagingDirector & CEO, Patrick Tuttle. Mike and Patrick are focused on ensuring Pepper continues to leverage its core credit underwriting and loan servicing expertise both in its home market of Australia and other underserved markets in Europe and Asia.Pepper is regulated by the Australian Securities & Investments Commission (“ASIC”) in Australia. Pepper Finance Corporation (Ireland) is regulated by the Central Bank of Ireland (CBI) in Ireland.Pepper is ranked by S&P as a “STRONG” Residential Loan Servicer and is included on S&P’s Global Select Servicer List. Pepper Group Announces Acquisition of Oakwood Loan Servicing & Asset Management Platform 2013-09-11T23:10:00Z pepper-group-announces-acquisition-of-oakwood-loan-servicing-amp-asset-management-platform Press ReleaseThursday, 12 September 2013 Sydney, Australia Australian specialist financial services group, Pepper Australia Pty Limited (“Pepper”) has today announced that it has acquired 100% of the issued share capital of Oakwood Global Finance LLP and its controlled entities (“Oakwood”). Pepper has purchased the business from private equity investor, Pamplona Capital Management LLP, and a small group of individual investors comprising current and former members of the Oakwood management team led by Richard Klemmer and Laurence Morey.Oakwood is an innovative financial services company that specialises in valuing, trading and managing portfolios of financial assets, primarily performing and non-performing residential and commercial mortgages, which are exposed to real estate and credit risk. It is also the premier, independent loan servicing and asset management platform in the United Kingdom, offering clients a full range of in-house credit and asset management services including Loan Origination, Primary Servicing, Master Servicing and Special Servicing. The Company is one of the highest rated independent residential mortgage Special Servicers in the United Kingdom, holds Primary Servicer ratings for both prime and subprime mortgages, and is also a Fitch rated residential mortgage Master Servicer. Announcing the deal in London, Pepper’s Group Managing Director & CEO, Patrick Tuttle said: “Oakwood is the UK’s leading specialist loan servicing and asset management platform. Its track record in managing both performing and non-performing residential and commercial mortgage portfolios is second-to-none, and the management team led by Richard Klemmer is among the best in the UK market”.From a strategic perspective, this deal further expands Pepper’s European loan servicing platform and capabilities across three jurisdictions, including Ireland, Spain and the United Kingdom. This is in addition to Pepper’s home market of Australia where it is already one of the largest non-bank financial institutions, as measured by total assets under management.Michael Culhane, Pepper’s Executive Chairman added, “This acquisition further extends Pepper’s servicing-led strategy to acquire high quality loan servicing platforms led by high calibre management teams in our targeted European markets, including Ireland, Spain, the United Kingdom and Italy. As the founder of both Oakwood and Pepper, I am delighted to see these two great businesses joining forces in Europe; I think we will make a formidable combination”.The London-based Oakwood, which commenced operations in 2002, currently manages a diverse range of loan portfolios on behalf of banking and institutional clients with combined assets under management in excess of A$4.4 Billion. Its main servicing operation is located on Cromwell Road, London and houses approximately 130 permanent staff and a state-of-the-art loan administration and asset management platform. Patrick Tuttle further commented: “Pepper can now truly claim to be a pan-European loan servicer and asset manager across multiple asset classes and operating in multiple jurisdictions. We are fiercely independent and offer professional investors unrivalled expertise in managing both performing and non-performing loan assets adversely impacted by volatile macroeconomic conditions across Europe”.-Ends-For more information please contact:Natalie Cameron / Anna FrilingosDEC Public Relations for Pepper Australia02 8014 5035 / (02) 8014 5036pepper@decpr.com.au Notes to editors:Pepper Australia Pty Limited (“Pepper”) is a highly experienced specialty mortgage lender, third-party loan servicer, and asset manager. Our underwriting philosophy, credit, loan servicing, collections and asset recovery procedures have been developed on the basis of more than 19 years of specialist mortgage lending experience, tried and tested in the United Kingdom and Australia.About Pepper – Key Facts Pepper Group (“Pepper”) is Australia’s largest non-bank residential mortgage lender (as measured by total assets under management), a leading provider of specialty residential mortgage and consumer financing and a highly experienced third-party loan servicer and asset manager.Worldwide, with the recently announced Oakwood transaction the company currently has approximately A$13.5 billion of loan and lease assets under management (comprising residential mortgages, commercial mortgages, equipment leases, small business loans, unsecured consumer loans and car loans).Since establishing itself as a specialist residential mortgage lender in the Australian market in March 2001, Pepper has originated more than A$4.0 billion of specialist residential mortgages in Australia.In 2011 Pepper acquired GE Capital’s Australian and New Zealand mortgage lending businesses, which comprised a portfolio of approximately A$5.0 billion of Australian and New Zealand residential mortgages. This transaction was one of the largest whole loan transactions in Australian history.In June 2012, Pepper established Pepper Asset Servicing in Ireland, having acquired the Irish mortgage business of GE Capital which included 3,500 Irish mortgage accounts and €650 million in receivables. At the time the company also assumed responsibility for the servicing of GE Capital’s Irish portfolio of personal, small enterprise and auto loans. Since then the company has invested significantly in the Irish operation and recently announced it had been appointed by CarVal Investors to provide special servicing, master servicing and asset management on the €380 million Pittsburgh portfolio of loans CarVal Investors acquired from Lloyds in December 2012.More recently the Irish business has been awarded servicing mandates from Danske Bank and the Irish government to manage pools of residential and commercial mortgage assets.In July 2012, Pepper acquired Grant Samuel Holdings Limited real estate advisory business, which was renamed Pepper Property. Pepper Property is a leading real estate investment and advisory group that delivers independent, high quality strategic advice to the corporate real estate (CRE) sector, tenant representation services, capital structuring, divestments and acquisitions, and investment management services.In March 2013, Pepper established Pepper Spain in Madrid having acquired the Celeris servicing and origination platform from shareholders consisting of a number of Spanish banks and building societies. Along with the platform of 122 people Pepper acquired a €290 million personal loan portfolio.Pepper’s current wholesale funding partners in Australia include Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corporation.In addition to lending and servicing its own mortgage portfolio, Pepper provides third party servicing of various types of mortgages, leases and unsecured loan products.Pepper is jointly led by Executive Chairman, Mike Culhane, and Group Managing Director & CEO, Patrick Tuttle. Mike and Patrick are focused on ensuring Pepper continues to leverage its core credit underwriting and loan servicing expertise both in its home market of Australia and other underserved markets in Europe and Asia.Pepper is regulated by the Australian Securities & Investments Commission (“ASIC”) in Australia. Pepper Finance Corporation (Ireland) is regulated by the Central Bank of Ireland (CBI) in Ireland.Pepper is ranked by S&P as a “STRONG” Residential Loan Servicer and is included on S&P’s Global Select Servicer List. Oakwood Global Finance LLP (“Oakwood”) offers a "one-stop-shop" solution for loan servicing ranging from customer contact management and payment processing through to market leading collections and loss mitigation services; all supported by advanced technology and accurate cash and data reporting. Engage Credit Limited, a member of the Oakwood group of affiliated companies, holds all appropriate FCA authorisations (Reg No. 484078) and performs all regulated activities for the group.Oakwood offer clients a full range of in-house loan origination and administration services designed to meet their specific needs and objectives through-out the life-cycle of loans. Clients can select from among our services related to Loan Origination, Primary Servicing, Master Servicing and Special Servicing.The Oakwood team of experienced servicing specialists, based in London and North Yorkshire, offer market leading Primary, Special and Master Servicing to lenders and investors. Oakwood's loan servicing platform holds 3 separate servicer ratings from international rating agency Fitch Ratings. The Company is one of the highest rated independent residential mortgage Special Servicers in the United Kingdom, holds Primary Servicer ratings for both prime and subprime mortgages, and is also a Fitch rated residential mortgage Master Servicer. Pepper and Cadence increase counterproposal to a value of 50.8 cents and request to meet with the RHG Board 2013-09-08T23:00:00Z pepper-and-cadence-increase-counterproposal-to-a-value-of-50-8-cents-and-request-to-meet-with-the-rhg-board Press Release9 September 2013 Following the announcement that the RHG Limited (“RHG”) Board has unanimously recommended the recently revised Resimac Syndicate proposal of 49.5 cents per share, Pepper Australia Pty Limited (“Pepper”) and Cadence Capital Limited (“CDM”) have put forward a counterproposal worth 50.8 cents per share of RHG as at the market close on 6 September 2013 (the “Pepper Scheme”). Under the Pepper Scheme, Pepper would acquire RHG for a consideration comprising 36 cents per share cash (increased from 35 cents cash per share) and shares in CDM at the ratio of one fully paid up ordinary share in CDM for every 10 ordinary shares in RHG held (rounded where the number of shares a shareholder owns is not a multiple of 10)1. The closing price of CDM shares on 6 September 2013 was $1.48. Based on that price, the total value of the consideration offered under the Pepper Scheme is 50.8 cents per share. The value at implementation of the Pepper Scheme will depend on the price of CDM shares at that time. The CDM Board has also approved a 10% buyback program for CDM shareholders which may be implemented should CDM’s stock price trade materially below net tangible asset value2. Pepper Group’s CEO Patrick Tuttle noted, “We believe we have put forward a superior counterproposal and would welcome the opportunity to meet with the RHG Board to discuss its merits”. He added, “While we are aware of the restrictions of the existing Scheme of Arrangement documentation between RHG and the Resimac Syndicate, we find it very surprising that we have not been invited to discuss any of our proposals to date with the RHG Board”. 1 This ratio will revert to 1 CDM share for every 20 RHG shares if necessary CDM shareholder approval is not obtained by 30 November 2013 2 The pricing for the approved buyback program has not yet been determined and will be announced to ASX if CDM determines to commence the buyback. Any such pricing will be subject to legal requirements. Referencing the RHG Press Release dated 29 August 2013, Michael Culhane, Pepper’s Executive Chairman, added “The RHG Board appears to have been quite selective in how they have evaluated the Pepper Scheme proposals to date, as compared to the Resimac Syndicate proposal. While no proposal is without risk we are of the opinion that the 29 August Press Release is one-sided as to its assessment of the Pepper Scheme structure and we believe we should have been afforded the opportunity to formally discuss our proposal with RHG or its advisers so that any misunderstandings could have been avoided”. Karl Siegling of Cadence went on to say, “As a consequence of this superior proposal, CDM, as the largest institutional shareholder of RHG, does not support the current proposal by the Resimac syndicate. Whilst the approved buyback policy gives scope to address liquidity concerns, we are keen for RHG shareholders to participate in the future potential upside of CDM shares.” Karl added, “I too would be keen to meet with the senior management and the Board of RHG so that we can understand and effectively respond to any specific concerns they have”. Pepper and Cadence look forward to discussing their revised counterproposal with the RHG Board and advisers at their earliest convenience. Ends For more information please contact:Natalie Cameron / Anna FrilingosDEC Public Relations for Pepper Australia02 8014 5035 / (02) 8014 5036pepper@decpr.com.au Notes to editors:Pepper Australia Pty Limited (“Pepper”) is a highly experienced specialty mortgage lender, third-party loan servicer, and asset manager. Our underwriting philosophy, credit, loan servicing, collections and asset recovery procedures have been developed on the basis of more than 20 years of specialist mortgage lending experience, tried and tested in the United Kingdom and Australia. About Pepper – Key FactsPepper Group (“Pepper”) is Australia’s largest non-bank residential mortgage lender (as measured by total assets under management), a leading provider of specialty residential mortgage and consumer financing and a highly experienced third-party loan servicer and asset manager.Worldwide, the company currently has approximately A$9.1 billion of loan and lease assets under management (comprising residential mortgages, commercial mortgages, equipment leases, small business loans, unsecured consumer loans and car loans).Since establishing itself as a specialist residential mortgage lender in the Australian market in March 2001, Pepper has originated more than A$3.8 billion of specialist residential mortgages in Australia.In 2011 Pepper acquired GE Capital’s Australian and New Zealand mortgage lending businesses, which comprised a portfolio of approximately A$5.0 billion of Australian and New Zealand residential mortgages. This transaction was one of the largest whole loan transactions in Australian history.In June 2012, Pepper established Pepper Asset Servicing in Ireland, having acquired the Irish mortgage business of GE Capital which included 3,500 Irish mortgage accounts and €650 million in receivables. At the time the company also assumed responsibility for the servicing of GE Capital’s Irish portfolio of personal, small enterprise and auto loans. Since then the company has invested significantly in the Irish operation and recently announced it had been appointed by CarVal Investors to provide special servicing, master servicing and asset management on the €380 million Pittsburgh portfolio of loans CarVal Investors acquired from Lloyds in December 2012. More recently the Irish business has been awarded servicing mandates from Danske Bank and the Irish government to manage pools of residential and commercial mortgage assets.In July 2012, Pepper acquired Grant Samuel Holdings Limited real estate advisory business, which was renamed Pepper Property. Pepper Property is a leading real estate investment and advisory group that delivers independent, high quality strategic advice to the corporate real estate (CRE) sector, tenant representation services, capital structuring, divestments and acquisitions, and investment management services.In March 2013, Pepper established Pepper Spain in Madrid having acquired the Celeris servicing and origination platform from shareholders consisting of a number of Spanish banks and building societies. Along with the platform of 122 people Pepper acquired a €290 million personal loan portfolio.Pepper’s current wholesale funding partners in Australia include Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corporation.In addition to lending and servicing its own mortgage portfolio, Pepper provides third party servicing of various types of mortgages, leases and unsecured loan products.Pepper is jointly led by Executive Chairman, Mike Culhane, and Group Managing Director & CEO, Patrick Tuttle. Mike and Patrick are focused on ensuring Pepper continues to leverage its core credit underwriting and loan servicing expertise both in its home market of Australia and other underserved markets in Europe and Asia.Pepper is regulated by the Australian Securities & Investments Commission (“ASIC”) in Australia. Pepper Finance Corporation (Ireland) is regulated by the Central Bank of Ireland (CBI) in Ireland.Pepper is ranked by S&P as a “STRONG” Residential Loan Servicer and is included on S&P’s Global Select Servicer List. Pepper Announces Revised Bid to Acquire 100% of the issued share capital of RHG Limited 2013-08-15T23:00:00Z pepper-announces-revised-bid-to-acquire-100-of-the-issued-share-capital-of-rhg-limited 16 August 2013 Australian specialist mortgage lender, Pepper Australia Pty Limited (“Pepper”) has today announced that it has submitted a binding offer to acquire 100% of the issued share capital of RHG Limited (“RHG”) pursuant to a Scheme of Arrangement (the “Pepper Scheme”). Under the Pepper Scheme, Pepper would acquire RHG for a consideration comprising 35 cents per share cash and shares in Cadence Capital Limited (“CDM”) at the ratio of one fully paid up ordinary share in CDM for every 10 ordinary shares in RHG held (rounded where the number of shares a shareholder owns is not a multiple of 10). The closing price of CDM shares on 15 August 2013 was $1.465. Based on that price, the total value of the consideration offered under the Pepper Scheme is 49.65 cents per share. The value at implementation of the Pepper Scheme will depend on the price of CDM shares at that time. It is also proposed that CDM will pay a fully franked dividend of 5.0 cents per CDM share owned through exchanging RHG shares. The dividend will be available for exchanging RHG shareholders who remain on the CDM share register as of the relevant record date which will be immediately following the successful implementation of the Pepper Scheme. Based on the closing price of CDM yesterday, the value of the consideration offered as part of the Pepper Scheme is 1.65 cents per share higher than the amount such shareholders would receive under the scheme that was announced on Monday, 15 July 2013 whereby a syndicate comprising Australian Mortgage Acquisition Company Pty Limited and Resimac Limited (the “Resimac Syndicate”) would acquire RHG. The Pepper Scheme also provides that RHG must pay to shareholders a fully franked dividend before 31 October 2013, following the payment of its relevant tax for the quarter ending 30 September 2013. This dividend would decrease the amount that Pepper would accordingly pay under the Pepper Scheme. Pepper has submitted a draft Merger Implementation Agreement (“MIA”) with its binding offer to RHG and has confirmed its readiness to enter into the MIA as soon as RHG is able to do so. Pepper considers that its offer, having regard to the price and terms proposed in the MIA, is a superior proposal to the transaction that RHG has entered into with the Resimac Syndicate. Referring to the structure of the Pepper Scheme, Pepper’s Group Managing Director & CEO Patrick Tuttle commented "The combination of Pepper and Cadence Capital as RHG’s largest shareholder delivers superior value to RHG shareholders in the form of cash, Cadence stock, and fully franked dividends. The involvement of Cadence Capital in our syndicate also enhances the certainty of execution of our proposal relative to that of the Resimac Syndicate”. Patrick also noted “From Pepper’s perspective, the acquisition of RHG is strategically important as we seek to further extend our lending, servicing and securitisation expertise into the prime residential mortgage sector. By acquiring RHG, we will derive significant synergistic benefits from the integration of its prime home loan portfolio with our existing loan origination and serving infrastructure”. Mike Culhane, Pepper’s Executive Chairman added "Pepper and Cadence Capital have carefully considered what would be most appealing to the RHG shareholder constituency and believe their combined structure delivers the optimal result for all parties”. -Ends- For more information please contact:Anna Frilingos / Michael HendersonDEC Public Relations for Pepper Australia02 8014 5036 / (02) 8014 5033pepper@decpr.com.au Notes to editors:Pepper Australia Pty Limited (“Pepper”) is a highly experienced specialty mortgage lender, third-party loan servicer, and asset manager. Our underwriting philosophy, credit, loan servicing, collections and asset recovery procedures have been developed on the basis of more than 19 years of specialist mortgage lending experience, tried and tested in the United Kingdom and Australia. About Pepper – Key FactsPepper Group (“Pepper”) is Australia’s largest non-bank residential mortgage lender (as measured by total assets under management), a leading provider of specialty residential mortgage and consumer financing and a highly experienced third-party loan servicer and asset manager.Worldwide, the company currently has approximately A$9.1 billion of loan and lease assets under management (comprising residential mortgages, commercial mortgages, equipment leases, small business loans, unsecured consumer loans and car loans).Since establishing itself as a specialist residential mortgage lender in the Australian market in March 2001, Pepper has originated more than A$3.8 billion of specialist residential mortgages in Australia.In 2011 Pepper acquired GE Capital’s Australian and New Zealand mortgage lending businesses, which comprised a portfolio of approximately A$5.0 billion ofAustralian and New Zealand residential mortgages. This transaction was one of the largest whole loan transactions in Australian history.In June 2012, Pepper established Pepper Asset Servicing in Ireland, having acquired the Irish mortgage business of GE Capital which included 3,500 Irish mortgage accounts and €650 million in receivables. At the time the company also assumed responsibility for the servicing of GE Capital’s Irish portfolio of personal, small enterprise and auto loans. Since then the company has invested significantly in the Irish operation and recently announced it had been appointed by CarVal Investors to provide special servicing, master servicing and asset management on the €380 million Pittsburgh portfolio of loans CarVal Investors acquired from Lloyds in December 2012. More recently the Irish business has been awarded servicing mandates from Danske Bank and the Irish government to manage pools of residential and commercial mortgage assets.In July 2012, Pepper acquired Grant Samuel Holdings Limited real estate advisory business, which was renamed Pepper Property. Pepper Property is a leading real estate investment and advisory group that delivers independent, high quality strategic advice to the corporate real estate (CRE) sector, tenant representation services, capital structuring, divestments and acquisitions, and investment management services.In March 2013, Pepper established Pepper Spain in Madrid having acquired theCeleris servicing and origination platform from shareholders consisting of a number of Spanish banks and building societies. Along with the platform of 122 people Pepper acquired a €290 million personal loan portfolio.Pepper’s current wholesale funding partners in Australia include Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corporation.In addition to lending and servicing its own mortgage portfolio, Pepper provides third party servicing of various types of mortgages, leases and unsecured loan products.Pepper is jointly led by Executive Chairman, Mike Culhane, and Group ManagingDirector & CEO, Patrick Tuttle. Mike and Patrick are focused on ensuring Pepper continues to leverage its core credit underwriting and loan servicing expertise both in its home market of Australia and other underserved markets in Europe and Asia.Pepper is regulated by the Australian Securities & Investments Commission(“ASIC”) in Australia. Pepper Finance Corporation (Ireland) is regulated by theCentral Bank of Ireland (CBI) in Ireland.Pepper is ranked by S&P as a “STRONG” Residential Loan Servicer and is included on S&P’s Global Select Servicer List.