Press Release
Sydney, 10 March 2015
Macquarie Group Limited today announced that the SMART ABS Series 2015-1US Trust, a securitisation issue of automobile receivables, priced this morning (Sydney time).
The $A755 million equivalent SMART ABS Series 2015-1US Trust issue comprises the following $A-denominated securities and SEC Reg AB $US-denominated:
| Class | Expected Rating (S&P/Fitch) | Size | Expected Average Life (yrs) | Coupon Type | Coupon (Benchmark) |
|---|---|---|---|---|---|
| A-1 | F1+sf/P-1(sf) | $US104m | 0.36 | Fixed | 0.40% (Int. LIBOR) |
| A-2a | AAAsf/Aaa(sf) | $US62m | 1.08 | Fixed | 0.99% (EDSF) |
| A-2b | AAAsf/Aaa(sf) | $US65m | 1.08 | Floating | LIBOR + 0.42% |
| A-3a | AAAsf/Aaa(sf) | $US69m | 2.16 | Fixed | 1.50% (Int. Swap) |
| A-3b | AAAsf/Aaa(sf) | $US50m | 2.16 | Floating | LIBOR + 0.52% |
| A-4* | AAAsf/Aaa(sf) | $A197m | 3.53 | Floating | BBSW + 1.00% |
| B* | AAsf/Aa3(sf) | $A15.095m | 2.68 | Not disclosed | |
| Seller Notes* | Not Rated | $A83.021m | 2.68 | Not disclosed |
* The Class B & Seller Notes were retained. The $A denominated securities were not offered pursuant to the SEC Reg AB $US prospectus supplement and the prospectus.
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 ABS Series 2015-1US Trust, Perpetual Trustee Company Limited, is the issuer of the asset-backed securities.
The issue is due to settle on 20 March 2015.
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