Sydney, 11 March 2015
Macquarie Group Limited today announced that the SMART ABS Series 2015-1US Trust, a securitisation issue of automobile receivables, priced this morning (Sydney time).
The $A755 million equivalent SMART ABS Series 2015-1US Trust issue comprises the following $A-denominated securities and SEC Reg AB $US-denominated:
|Class||Expected Rating (S&P/Fitch)||Size||Expected Average Life (yrs)||Coupon Type||Coupon (Benchmark)|
|A-1||F1+sf/P-1(sf)||$US104m||0.36||Fixed||0.40% (Int. LIBOR)|
|A-2b||AAAsf/Aaa(sf)||$US65m||1.08||Floating||LIBOR + 0.42%|
|A-3a||AAAsf/Aaa(sf)||$US69m||2.16||Fixed||1.50% (Int. Swap)|
|A-3b||AAAsf/Aaa(sf)||$US50m||2.16||Floating||LIBOR + 0.52%|
|A-4*||AAAsf/Aaa(sf)||$A197m||3.53||Floating||BBSW + 1.00%|
|Seller Notes*||Not Rated||$A83.021m||2.68||Not disclosed|
* The Class B & Seller Notes were retained. The $A denominated securities were not offered pursuant to the SEC Reg AB $US prospectus supplement and the prospectus.
Macquarie Leasing Pty Limited, a subsidiary of the Macquarie Group, is the originator of the assets and will also be the servicer of the portfolio. The trustee of the SMART ABS Series 2015-1US Trust, Perpetual Trustee Company Limited, is the issuer of the asset-backed securities.
The issue is due to settle on 20 March 2015.