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Home» About Macquarie Group» News & announcements» Archive 2011» SMART Series 2011- 4US Trust auto backed securitisation issue price

News & announcements

SMART Series 2011- 4US Trust auto backed securitisation issue price

11 November 2011

Macquarie Group Limited today announced that the SMART Series 2011-4US Trust, a securitisation issue of automobile receivables, priced earlier today (New York time).

The A$553.8 million equivalent SMART Series 2011-4US Trust issue comprises the following Rule 144A US$ 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)	US$100m	0.36	Fixed	0.00% (Int. LIBOR)
A-2a	AAAsf / Aaa (sf)	US$35m	1.15	Fixed	0.90% (EDSF)
A-2b	AAAsf / Aaa (sf)	US$123m	1.15	Floating	LIBOR + 0.90%
A-3a	AAAsf / Aaa (sf)	US$25m	2.35	Fixed	1.10% (Int. Swap)
A-3b	AAAsf / Aaa (sf)	US$136m	2.35	Floating	LIBOR + 1.10%
A-4a	AAAsf / Aaa (sf)	US$30m	3.55	Fixed	1.35% (Int. Swap)
A-4b	AAAsf / Aaa (sf)	US$51m	3.55	Floating	LIBOR + 1.35%
B*	AAsf / Aa3 (sf)	A$11.075m	2.65	Not Disclosed
C*	Asf / A2 (sf)	A$15.229m	2.65	Not Disclosed
D*	BBBsf / Baa2 (sf)	A$13.844m	2.65	Not Disclosed
E*	BBsf / Ba2 (sf)	A$12.46m	2.65	Not Disclosed
Seller	Not Rated	A$8.307m	2.65	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 2011-4US Trust, Perpetual Trustee Company Limited, is the issuer of the asset-backed securities.

SMART Series 2011-4US Trust is the thirteenth transaction issued under the SMART programme and the fourth issued into the US Rule 144A investor market. This transaction follows an A$900 million issue in October 2011. Building on the success of previous transactions, the SMART program continues to attract new investors. US Rule 144A issuance under the SMART program year-to-date 2011 totals US$1.85 billion.

RBS is 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 16 November 2011.

For further information, please contact:

Adrian Bentley, Group Treasury (61 2) 8232 8584

Amanda Mitchell, Corporate Communications (61 2) 8232 8647

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