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Pepper launches $400m RMBS deal

S&P Global Ratings has assigned preliminary ratings to another RMBS transaction issued by Pepper HomeLoans. This transaction comprises eight classes of prime residential mortgage-backed securities to be known as the Pepper I-Prime 2017-3 Trust. The collateral pool comprises prime residential mortgages, originated by Pepper HomeLoans Pty Ltd. Preliminary ratings of AAA (sf) were allocated by S&P Global to these classes of Notes: the A1-S, A1-L and A2 notes in the amounts of A$131 million, $189 million and $48 million, respectively The following notes were given preliminary ratings as indicated: $12 million B notes: AA (sf); $7.0 million C Notes: A (sf); $5.5 million D Notes: BBB (sf); $3.5 million E Notes: BB (sf); $2.0 million F Notes: B (sf); andThe $2.0 million G Notes were not rated by S&P.

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