Press Release

Macquarie prices $US500 million SMART ABS series 2014-1US

Sydney, 06 March 2014

Macquarie Group Limited today announced that the SMART Series 2014-1US Trust, a securitisation issue of automobile receivables, priced overnight (New York time).

The $A632 million equivalent SMART Series 2014-1US Trust issue comprises the following SEC Reg AB $US and $A denominated securities:

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ClassExpected Rating (Fitch/Moody's)SizeExpected Average Life (yrs)CouponMargin (Benchmark)
A-1F1+sf / P-1 (sf)$US90m0.35Fixed0.22% (Int. LIBOR)
A-2aAAAsf / Aaa (sf)$US94m1.10Fixed0.30% (EDSF)
A-2bAAAsf / Aaa (sf)$US40m1.10FloatingLIBOR + 0.30%
A-3aAAAsf / Aaa (sf)$US70m2.25Fixed0.40% (Int. Swap)
A-3bAAAsf / Aaa (sf)$US96m2.25FloatingLIBOR + 0.40%
A-4aAAAsf / Aaa (sf)$US50m3.64Fixed0.60% (Int. Swap)
A-4bAAAsf / Aaa (sf)$US60m3.64FloatingLIBOR + 0.60%
B*AAsf / Aa3 (sf)$A9.486m2.74Not disclosed
C*Asf / A2 (sf)$A17.390m2.74Not disclosed
D*BBBsf / Baa3 (sf)$A17.390m2.74Not disclosed
E*BBsf / Ba2 (sf)$A15.809m2.74Not disclosed
Seller notes*Not rated$A15.810m2.74Not 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 2014-1US Trust, Perpetual Trustee Company Limited, is the issuer of the asset-backed securities.

The issue is due to settle on 14 March 2014.

 

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