Macquarie prices $A750 million PUMA Masterfund P-16 RMBS transaction

The $A78.7 million Class A-1 senior notes, to be rated Aaa (sf) by Moody’s Investors Service and AAA sf by Fitch Ratings, with a weighted average life of approximately 0.3 years, were priced at a margin of 0.60 per cent (60 basis points) over 1-month BBSW.

The A$360.0 million Class A-2 senior notes, to be rated Aaa (sf) by Moody’s Investors Service and AAA sf by Fitch Ratings, with a weighted average life of approximately 1.8 years, were priced at a margin of 1.00 per cent (100 basis points) over 1-month BBSW.

The A$247.5 million Class A-3 senior notes, to be rated Aaa (sf) by Moody’s Investors Service and AAA sf by Fitch Ratings, with a weighted average life of approximately 6.3 years, were priced at a margin of 1.15 per cent (115 basis points) over 1-month BBSW. This tranche was purchased by the Australian Office Of Financial Management.

The A$45.0 million Class AB mezzanine notes are to be rated AAA sf by Fitch Ratings, with a weighted average life of approximately 5.3 years. The $A18.8 million Class B subordinated notes, are to be rated A+ sf by Fitch Ratings and also have a weighted average life of approximately 5.3 years.

The PUMA P-16 bond issue is collateralised by a pool of mortgage loans with a weighted average current loan-to-value ratio of 65 per cent and a weighted average seasoning of 65 months. The pool consists entirely of fully verified income (“full doc”) loans. All loans have the benefit of mortgage insurance covering 100 per cent of principal and interest on the loans, provided by either Genworth Financial Mortgage Insurance, Genworth Financial Mortgage Indemnity or QBE Lenders’ Mortgage Insurance.

Macquarie Bank is the arranger for the issue and Macquarie Bank, Commonwealth Bank and Deutsche Bank are the joint lead managers. The issue will settle on 2 September, 2010.

This release is not an offer of securities for sale in the United States. The notes described above may not be offered or sold in the United States absent registration or an exemption from registration. No public offering of the notes is intended, and any public offering of the notes to be made in the United States would be made by means of a prospectus that may be obtained from the issuer and that will contain detailed information about the trust.

Macquarie Securitisation Limited is not an authorised deposit-taking institution for the purposes of the Banking Act (Cth) 1959, and Macquarie Securitisation Limited's obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542. Macquarie Bank Limited does not guarantee or otherwise provide assurance in respect of the obligations of Macquarie Securitisation Limited.

Macquarie Bank Limited ABN 46 008 583 542 is authorized by The Australian Prudential Regulation Authority in the Commonwealth of Australia and The Financial Services Authority in the United Kingdom, to carry out banking business or to accept deposits in those respective jurisdictions. Macquarie Bank Limited and its related bodies corporate (the Macquarie Bank Group) are not otherwise currently authorised to carry out banking business or to accept deposits in any other countries.

Macquarie Securitisation Issuance under the PUMA Programme