Pepper Money UK closes £400m Castell 20261 second charge securitisation
Oversubscribed transaction highlights strong investor demand in specialist second lien market
Pepper Money UK, a leading specialist mortgage lender, today confirms the successful completion of Castell 20261, its latest second charge residential mortgage backed securitisation, issuing £400 million of notes.
The transaction was oversubscribed across the capital structure, demonstrating strong investor demand and continued confidence in Pepper Money UK’s asset quality, underwriting discipline and established second charge platform, despite ongoing volatility in global financial markets.
Castell 20261 reinforces Pepper Money UK’s position as a consistent issuer in the UK specialist RMBS market and a leading participant in the second charge segment, supporting the firm’s longterm funding strategy and continued growth across its specialist mortgage portfolios.
Andy Voss, Chief Financial Officer of Pepper Money UK, commented:
“The successful closing of Castell 20261, with strong investor demand and oversubscription across the structure, is a clear endorsement of the quality of our assets and the strength of our capital markets franchise.
In a volatile market, continued access to deep and diversified funding is critical. Transactions like this allow us to support brokers and borrowers with confidence, consistency and longterm commitment.”
Castell 20261 forms part of Pepper Money UK’s well established securitisation programme, which plays a central role in funding sustainable lending growth and maintaining balance sheet resilience.