Firstmac Bond Series 2-2004 $500 million mortgage backed securitisation issue prices today

13 August 2004

Macquarie Debt Markets announced today that it has priced the Firstmac 2-2004 residential mortgage backed securitisation issue that was recently launched by the First Mortgage Group.

Macquarie is arranger and lead manager of the transaction and Australia and New Zealand Banking Group Limited and HSBC Bank plc are co managers.

Due to the high level of investor interest, the size of the issue was increased by $100 million to $500 million.

In addition, the Class A2 tranche was divided into 2 sub tranches, to enable the issuance of Notes paying a coupon based on AUD LIBOR. 

Pricing is as follows:

*over 30 day BBSW
**over 30 day AUD LIBOR

Teresa Neal, Associate Director of Macquarie Bank Debt Markets said “We are delighted with the results of the transaction.  The issue was warmly received by investors with the Class A2 Notes being oversubscribed (even after upsizing).  More than 20 investors participated in the transaction.  In excess of 40% of the issue was placed offshore.  We believe that Firstmac is establishing a reputation as a frequent issuer and has greatly increased its profile with investors over the 12 months that have elapsed since its first issue took place.

As with the Firstmac 1-2004 issue, we were pleased to offer the issuer the opportunity to diversify its investor base through issuing the AUD LIBOR based Notes. ”

The issue will settle on 18 August 2004.

For further information please contact:

Teresa Neal
Associate Director
Debt Finance
Tel: (612) 8232 3844