Press Release
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:
| 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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