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NRA and KWM advise on $150 million finance sale

NRA and KWM advise on $150 million finance sale

Norton Rose Australia and King & Wood Mallesons have advised on the sale of Suncorp’s auto and equipment finance book.

Firms: Norton Rose Australia (Suncorp Metway Limited) King & Wood Mallesons (Pepper Australia Limited)

Deal: Suncorp sells its non-core auto and equipment finance book to Pepper Australia Limited

Area: Banking and finance

Value: $150 million

Key players: The Norton Rose team was led by Brisbane partner David Lyons and Sydney partner Adrian Ahern. Peter Norman, partner, worked alongside Adrian on tax issues and Petar Kuessner, partner, on securitisation issues. They were assisted by senior associates Nigel Deed and Claire Falkner

Deal significance: The Suncorp portfolio acquired by Pepper comprises loans for passenger cars and commercial vehicles, as well as equipment finance across a variety of sectors, such as agriculture, office and medical.

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