Press Release

SMART Series 2012-3EQ Trust equipment backed securitisation issue priced

Sydney, 22 August 2012

Macquarie Group Limited today announced that the SMART Series 2012-3EQ Trust, a securitisation issue of equipment receivables, closed oversubscribed and was priced on Tuesday, 21 August.

The AUD250 million SMART Series 2012-3EQ Trust issue comprises the following securities denominated in Australian dollars:

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Class Expected Rating
(Fitch)
Size
(AUD million)
Expected Average
Life (yrs)
Margin
(Benchmark)
A-1 F1+sf 60.00 0.4 0.75% (BBSW)
A-2 AAAsf 133.70 2.0 1.80% (BBSW)
B AAsf 6.55 1.5 Not Disclosed
Seller Notes* Not Rated 49.75 1.5 Not Disclosed

*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 2012-3EQ Trust, Perpetual Trustee Company Limited, is the issuer of the asset-backed securities.

This is the third SMART issue for 2012 and the first SMART transaction to be backed by equipment receivables only.  The transaction was oversubscribed with 11 Investors participating across one or more tranches.

Macquarie Bank Limited, Australia and New Zealand Banking Group Limited are the Joint Lead Managers. JP Morgan Australia Limited and The Royal Bank of Scotland Plc are Co-managers.

The issue is due to settle on 24 August 2012.

 

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