16 May 2013
Macquarie Group Limited today announced that the SMART Series 2013-2US Trust, a securitisation issue of automobile receivables, priced overnight (New York time).
The $A853 million equivalent SMART Series 2013-2US Trust issue comprises the following SEC Reg AB $US and $A denominated securities:
|Class||Expected Rating (Fitch/Moody's)||Size||Expected Average Life (yrs)||Coupon||Margin (Benchmark)|
|A-1||F1+sf / P-1 (sf)||$US142.5m||0.37||Fixed||0.26% (Int. LIBOR)|
|A-2a||AAAsf / Aaa (sf)||$US45m||1.14||Fixed||0.25% (EDSF)|
|A-2b||AAAsf / Aaa (sf)||$US142.5m||1.14||Floating||LIBOR + 0.25%|
|A-3a||AAAsf / Aaa (sf)||$US50m||2.15||Fixed||0.43% (Int. Swap)|
|A-3b||AAAsf / Aaa (sf)||$US167.5m||2.15||Floating||LIBOR + 0.43%|
|A-4a||AAAsf / Aaa (sf)||$US137.5m||3.49||Fixed||0.55% (Int. Swap)|
|A-4b||AAAsf / Aaa (sf)||$US65m||3.49||Floating||LIBOR +0.55%|
|B*||AAsf /Aa2 (sf)||$A9.382m||2.86||Not Disclosed|
|C*||Asf / A2 (sf)||$A31.132m||2.86||Not Disclosed|
|D*||BBBsf / Baa2 (sf)||$A21.324m||2.86||Not Disclosed|
|E*||BBsf / Ba3 (sf)||$A19.191m||2.86||Not Disclosed|
|Seller Notes*||Not Rated||$A12.794m||2.86||Not Disclosed|
*The Class B, C, D, E & Seller Notes were retained
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 Series 2013-2US Trust, Perpetual Trustee Company Limited, is the issuer of the asset-backed securities.
The issue is due to settle on 22 May 2013.
For media inquiries, please contact:
Navleen Prasad Corporate Communications +61 2 8232 6472
For all other inquiries, please contact:
Angus Cameron Group Treasury +61 2 8232 9992
Macquarie Group Limited is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cwth), and its obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL). MBL does not guarantee or otherwise provide assurance in respect of the obligations of Macquarie Group Limited.