Australia's Pepper Money rises as consortium buys RAMS home loan portfolio
02/11/2025 23:36
** Shares of non-banking lender Pepper Money PPM.AX rise as much as 15.7% to A$2.580, their highest level since August 31, 2021 ** A consortium including co, KKR KKR.N, and PIMCO agrees to acquire RAMS home loan portfolio from Westpac Banking Corp WBC.AX ** Says the portfolio comprises A$21.4 billion ($13.91 billion) in residential mortgages as at September 30, 2025 ** PPM to acquire legal title to the loans and will be appointed as servicer of the portfolio Stock among top gainers on the ASX All Ordinaries index .AORD ** As of last close, the stock was up 70.1% YTD ($1 = 1.5389 Australian dollars) (Reporting by Himanshi Akhand in Bengaluru) ((Himanshi.Akhand@thomsonreuters.com;))