NAMA announces preferred bidder for servicing of IBRC residential loans to be acquired from Special Liquidators

Residential loans – selection of service provider

Following a competitive tendering process which was launched in September, the National Asset Management Agency (NAMA) has selected Pepper Asset Servicing as its preferred bidder to provide services on the portfolio of personal loans, principally residential mortgage loans, which it may acquire from the Special Liquidators to IBRC.  This portfolio could potentially comprise loans with an aggregate nominal par debt value of €1.8 billion, depending on the extent to which loans are sold by the Special Liquidators during the current sales process. The appointment is subject to agreement on contractual terms. 

Pepper Finance Corporation (Ireland) Limited, trading as Pepper Asset Servicing, was established in September 2012 and employs 170 staff in Dublin and Shannon.  Pepper Ireland is part of the Pepper Group which has its headquarters in Sydney, Australia and which specialises in lending, advisory and asset management services.