Press Release

SMART Series 2013-1US Trust auto-backed securitisation issue priced

Sydney, 17 January 2013

Macquarie Group Limited today announced that the SMART Series 2013-1US Trust, a securitisation issue of automobile receivables, priced overnight (New York time).

The $A533 million equivalent SMART Series 2013-1US 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)$US100m0.37Fixed-0.15% (Int. LIBOR)
A-2aAAAsf/ Aaa (sf)$US60m1.15Fixed0.27% (EDSF)
A-2bAAAsf/ Aaa (sf)$US70m1.15FloatingLIBOR + 0.27%
A-3aAAAsf/ Aaa (sf)$US50m2.20Fixed0.45% (Int. Swap)
A-3bAAAsf / Aaa (sf)$US89m2.20FloatingLIBOR+ 0.45%
A-4aAAAsf / Aaa (sf)$US106m3.51Fixed0.50% (Int. Swap)
A-4bAAAsf/ Aaa (sf)$US25m3.51FloatingLIBOR+ 0.50%
B*AAsf / Aa2 (sf)$A5.858m2.86Not disclosed 
C*AAsf / A2 (sf)$A19.437m2.86Not disclosed 
D*BBBsf / Baaa2 (sf)$A13.312m2.86Not disclosed 
E*BBsf/ Ba2 (sf)$A11.982m2.86Not disclosed 
Seller Notes*Not Rated$A7.988m2.86Not 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 2013-1US Trust, Perpetual Trustee Company Limited, is the issuer of the asset-backed securities.

RBS Securities is the Arranger of the transaction. JPMorgan Securities Inc, Macquarie Capital (USA) Inc and RBS Securities Inc are the Joint Lead Managers for the $US notes and ANZ is the Co-Manager for the $US notes.

The issue is due to settle on 23 January 2013.

 

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