RESIMAC Limited prices inaugural A$40 million net interest margin transaction

28 April 2006

RESIMAC Limited ("RESIMAC") yesterday priced an A$40 million net interest margin (NIM) transaction.

The notes will be issued via RESIMAC's NIM Master Trust and will ultimately be secured over residual income payments from eight RESIMAC term securitisation and warehouse trusts. These trusts together contain in excess of $4.6 billion of prime, insured, mortgage collateral.

The transaction will comprise a single floating rate tranche of interest-only, soft-bullet notes with expected maturity of 7 May 2009. The notes are expected to have a rating of "A" from Standard and Poor's and will pay one month BBSW plus 43 basis points. Financial settlement will be on Wednesday 3 May 2006.

The transaction elicited strong interest from investors and was oversubscribed at the clearing margin. The participation of new investors to the RESIMAC programme was particularly pleasing to the issuer. The broad based allocation provides a solid foundation for the NIM programme.

Macquarie Bank is the lead manager on the transaction.


Tim Nallaiah
Macquarie Bank Debt Markets
Tel: (612) 8232 5343

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