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.