Press Release
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:
| Class | Expected Rating (Fitch/Moody's) | Size | Expected Average Life (yrs) | Coupon | Margin (Benchmark) |
|---|---|---|---|---|---|
| A-1 | F1+sf / P-1 (sf) | $US100m | 0.37 | Fixed | -0.15% (Int. LIBOR) |
| A-2a | AAAsf/ Aaa (sf) | $US60m | 1.15 | Fixed | 0.27% (EDSF) |
| A-2b | AAAsf/ Aaa (sf) | $US70m | 1.15 | Floating | LIBOR + 0.27% |
| A-3a | AAAsf/ Aaa (sf) | $US50m | 2.20 | Fixed | 0.45% (Int. Swap) |
| A-3b | AAAsf / Aaa (sf) | $US89m | 2.20 | Floating | LIBOR+ 0.45% |
| A-4a | AAAsf / Aaa (sf) | $US106m | 3.51 | Fixed | 0.50% (Int. Swap) |
| A-4b | AAAsf/ Aaa (sf) | $US25m | 3.51 | Floating | LIBOR+ 0.50% |
| B* | AAsf / Aa2 (sf) | $A5.858m | 2.86 | Not disclosed | |
| C* | AAsf / A2 (sf) | $A19.437m | 2.86 | Not disclosed | |
| D* | BBBsf / Baaa2 (sf) | $A13.312m | 2.86 | Not disclosed | |
| E* | BBsf/ Ba2 (sf) | $A11.982m | 2.86 | Not disclosed | |
| Seller Notes* | Not Rated | $A7.988m | 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 2013-1US 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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