Macquarie returns to US buyers with $500m Smart ABS

18 Jan 2013

Macquarie Group priced a $500m SEC-registered auto loan ABS deal from its Smart Series 2013-1 US Trust on Wednesday, splitting the transaction across seven tranches of Class A notes, but retaining around A$58.57m of class B,C,D and E Aussie dollar notes.

The borrower split the deal between floating rate and fixed rate notes, after launching its first in three months targetted almost exclusively at US buyers.

These tranches include a $100m Class A1 fixed rates note, which had an expected average life of 0.37 years, and was priced 15bp inside ...

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