Press Release

SMART Series 2013-2US Trust auto-backed securitisation issue priced

Sydney, 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: 

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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) $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) $31.132m 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.

 

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