Press Release
Sydney, 07 November 2014
Macquarie Group Limited announces that the SMART ABS Series 2014-4 Trust, a securitisation issue of automobile and equipment receivables, has priced.
The $A1,250 million SMART ABS Series 2014-4 Trust issue comprises the following securities:
Class | Expected Rating (Fitch/Moodys) | Size | Expected Average Life (yrs) | Margin (Benchmark) |
---|---|---|---|---|
Class A-A | AAAsf / Aaa (sf) | $A1,075m | 2.0 | 0.72% (BBSW) |
Class B* | AAsf / Aa2 (sf) | $A31.25m | 2.7 | Not Disclosed |
Seller Notes* | Not Rated | $A143.75m | 2.7 | Not Disclosed |
* Class B and Seller Notes were retained
This is the fourth SMART issue for 2014. A total of 14 investors participated in the transaction.
Macquarie Leasing Pty Limited, a subsidiary of the Macquarie Group, is the originator and the servicer of the portfolio. The trustee of the SMART ABS Series 2014-4 Trust, Perpetual Trustee Company Limited, is the issuer of the asset-backed securities.
Macquarie Bank Limited and Australia and New Zealand Banking Group Limited are the Joint Lead Managers. Citigroup Global Markets Australia Pty Limited, J.P. Morgan Australia Limited and The Royal Bank of Scotland Plc, Australia Branch are Co Managers. The issue is due to settle on 14 November 2014.
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