Press Release

SMART Series 2012-4US Trust auto-backed securitisation issue priced

Sydney, 05 October 2012

Macquarie Group Limited today announced that the SMART Series 2012-4US Trust, a securitisation issue of automobile receivables, priced overnight (New York time).

The $A823 million equivalent SMART Series 2012-4US Trust issue comprises the following SEC Reg AB $US and $A denominated securities:

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Class Expected Rating (Fitch/Moody's) Size Expected Average Life (yrs) Coupon Margin (Benchmark)
A-1 F1+sf / P-1 (sf) US$180m 0.40 Fixed -0.22% (Int. LIBOR)
A-2a AAAsf / Aaa (sf) US$130m 1.26 Fixed 0.33% (EDSF)
A-2b AAAsf / Aaa (sf) US$102.5m 1.26 Floating LIBOR + 0.33%
A-3a AAAsf / Aaa (sf) US$175m 2.64 Fixed 0.55% (Int. Swap)
A-3b AAAsf / Aaa (sf) US$60m 2.64 Floating LIBOR + 0.55%
A-4a AAAsf / Aaa (sf) US$82.5m 3.86 Fixed 0.70% (Int. Swap)
A-4b AAAsf / Aaa (sf) US$20m 3.86 Floating LIBOR + 0.70%
B* AAsf / Aa2 (sf) A$9.053m 2.81 Not Disclosed
C* Asf / A2 (sf) A$30.037m 2.81 Not Disclosed
D* BBBsf / Baa2 (sf) A$20.574m 2.81 Not Disclosed
E* BBsf / Ba2 (sf) A$18.516m 2.81 Not Disclosed
Seller Notes* Not Rated A$12.345m 2.81 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 2012-4US Trust, Perpetual Trustee Company Limited, is the issuer of the asset-backed securities.

SMART Series 2012-4US Trust is the first SMART transaction to be SEC registered under Regulation AB. This transaction follows six successful transactions under US Rule 144A, totalling $US3.4 billion since 2010.  SEC Registration has broadened the potential investor base that can participate in this and future SMART transactions.

JP Morgan is the Arranger of the transaction. JPMorgan Securities Inc, Macquarie Capital (USA) Inc and RBS Securities Inc are the Joint Lead Managers for the $US notes and ANZ is the Co-Manager for the $US notes.

The issue is due to settle on 11 October 2012.


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