Pepper Group has completed its fifth public transaction in the securitisation market this year, raising a total of A$4.2 billion. It is a record amount of issuance for the company in a year that at one point looked like it would go badly for securitisers.

In the latest deal, Pepper issued $615.9 million of asset-backed securities. SPARKZ3 is backed by auto receivables and a range of other asset types.

Pepper Group chief executive, Australia and New Zealand, Mario Rehayem, said the company was well funded for the year ahead.

Pricing on the latest deal included a margin of 105 basis points over the one-month bank bill swap rate for $440 million of A1-a notes, which have a weighted average life of 1.6 years.

The $15.9 million of A1-x notes, which have a weighted average life of 0.9 years, were priced at 100 bps over BBSW.

The $40 million of B notes, with a weighted average life of 3.6 years, were priced at 160 bps over BBSW and the $33 million of C notes, with a WAL of 2.5 years, were priced at 190 bps over BBSW.

The Australian Securitisation Forum said deal flow bounced back strongly in the September quarter with $11.3 billion of issuance – the most for a September quarter since 2017.