Sydney, 26 August 2010
The $A78.7 million Class A-1 senior notes, to be rated Aaa (sf) by Moody’s Investors Service and AAA sf by Fitch Ratings, with a weighted average life of approximately 0.3 years, were priced at a margin of 0.60 per cent (60 basis points) over 1-month BBSW.
The A$360.0 million Class A-2 senior notes, to be rated Aaa (sf) by Moody’s Investors Service and AAA sf by Fitch Ratings, with a weighted average life of approximately 1.8 years, were priced at a margin of 1.00 per cent (100 basis points) over 1-month BBSW.
The A$247.5 million Class A-3 senior notes, to be rated Aaa (sf) by Moody’s Investors Service and AAA sf by Fitch Ratings, with a weighted average life of approximately 6.3 years, were priced at a margin of 1.15 per cent (115 basis points) over 1-month BBSW. This tranche was purchased by the Australian Office Of Financial Management.
The A$45.0 million Class AB mezzanine notes are to be rated AAA sf by Fitch Ratings, with a weighted average life of approximately 5.3 years. The $A18.8 million Class B subordinated notes, are to be rated A+ sf by Fitch Ratings and also have a weighted average life of approximately 5.3 years.
The PUMA P-16 bond issue is collateralised by a pool of mortgage loans with a weighted average current loan-to-value ratio of 65 per cent and a weighted average seasoning of 65 months. The pool consists entirely of fully verified income (“full doc”) loans. All loans have the benefit of mortgage insurance covering 100 per cent of principal and interest on the loans, provided by either Genworth Financial Mortgage Insurance, Genworth Financial Mortgage Indemnity or QBE Lenders’ Mortgage Insurance.
Macquarie Bank is the arranger for the issue and Macquarie Bank, Commonwealth Bank and Deutsche Bank are the joint lead managers. The issue will settle on 2 September, 2010.
This release is not an offer of securities for sale in the United States. The notes described above may not be offered or sold in the United States absent registration or an exemption from registration. No public offering of the notes is intended, and any public offering of the notes to be made in the United States would be made by means of a prospectus that may be obtained from the issuer and that will contain detailed information about the trust.
Macquarie Securitisation Limited is not an authorised deposit-taking institution for the purposes of the Banking Act (Cth) 1959, and Macquarie Securitisation Limited's obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542. Macquarie Bank Limited does not guarantee or otherwise provide assurance in respect of the obligations of Macquarie Securitisation Limited.
Macquarie Bank Limited ABN 46 008 583 542 is authorized by The Australian Prudential Regulation Authority in the Commonwealth of Australia and The Financial Services Authority in the United Kingdom, to carry out banking business or to accept deposits in those respective jurisdictions. Macquarie Bank Limited and its related bodies corporate (the Macquarie Bank Group) are not otherwise currently authorised to carry out banking business or to accept deposits in any other countries.
|FUND||ISSUE SIZE (AUD)||ISSUE DATE|
|Sub Fund 1||$116 million||June 1993|
|Sub Fund 2||$42 million||March 1994|
|Sub Fund P-1||$200 million||December 1994|
|Sub Fund P-2||$300 million||February 1995|
|Sub Fund P-3||$700 million||June 1995|
|Masterfund P-4 Series A||$600 million||October 1995|
|Masterfund P-4 Series B||$250 million||December 1995|
|Masterfund P-5 Series A||$800 million||May 1996|
|Masterfund P-5 Series B||$500 million||September 1996|
|Masterfund P-6 Series A||$500 million||February 1997|
|Masterfund E-1 Series 1||$912 million (US$700 million)||March 1997|
|Masterfund P-6 Series B||$500 million||June 1997|
|Masterfund E-2 Series 1||$1,322 million (US$900 million)||December 1997|
|Masterfund E-2 Series 2||$725 million (US$450 million)||August 1998|
|Masterfund E-3 Series 1||$1,290 million (US$800 million)||March 1999|
|Masterfund E-3 Series 2||$751 million (US$500 million)||July 1999|
|Masterfund P-7 Series A||$750 million||February 2000|
|Global Trust No. 1||$2,344 million (US$1,200 million)||September 2001|
|Global Trust No. 2||$1,802 million (US$1,000 million)||June 2002|
|Masterfund P-8 Series A||$750 million||October 2002|
|Global Trust No. 3
||$1,793 million (US$1,000 million)||January 2003|
|Masterfund P-8 Series B||$700 million||July 2003|
|Global Trust No. 4||$1,904 million (US$1,200 million)||August 2003|
|Masterfund P-9 Series A||$700 million||October 2003|
|Global Trust S-1||$1,571 million (US$1,100 million)||June 2004|
|Masterfund P-10 Series A
||$1,000 million||July 2004|
|Masterfund P-10 Series B
||$750 million||October 2004|
|Masterfund P-10 Series C
||$750 million||February 2005|
|Masterfund S-2 Series A||$1,000 million||May 2005|
|Masterfund P-11 Series A||$1,600 million||August 2005|
|Masterfund P-11 Series B||$1,250 million||November 2005|
|Masterfund P-12 Series A||$1,400 million||April 2006|
|Masterfund S-3 Series A||$1,000 million||June 2006|
|Masterfund P-12 Series B||$1,000 million||July 2006|
|Global Trust No. 5||$3,311 million (US$1,650 million A$487 million EUR 400 million)||November 2006|
|Masterfund S-4||$800 million||March 2007|
|Masterfund H-1||$750 million||June 2007|
|Masterfund P-13||$500 million||September 2007|
|Masterfund S-5||$350 million||November 2007|
|Masterfund P-14*||$540 million||June 2008|
|Masterfund S-6||$300 million||June 2008|
|Masterfund P-15||$315 million||July 2008|
|Masterfund S-7||$700 million||July 2008|
|Masterfund S-8*||$1,198 million||March 2010|
|Masterfund P-16||$750 million||September 2010|
|Total PUMA Issuance||$41.1 billion|
* Privately placed