Pricing announced for FirstMac RMBS - Accounts, credit cards, …

Institutional

100 Queen Street

For release: 23 February 2007

Melbourne VIC 3000 +61 3 9273 6577

Pricing announced for FirstMac RMBS

ANZ announces the pricing of FirstMac Mortgage Funding Trust Series 1-2007 Trust, an A$781 million Residential Mortgage Backed Securities transaction. The transaction is supported by a portfolio of prime reduced documentation loans including Low and No Doc loans.

ANZ Investment Bank ("ANZIB") acted as Arranger and Joint Lead Manager. Macquarie Bank Limited ("Macquarie') was Joint Lead Manager and HSBC Bank plc ("HSBC") was Co-Manager.

Structure Details:

Note Tranches Class A (AAA/Aaa/AAA) Class AB (AAA/Aa1/AAA) Class B (AA/Aa2/AA)

Final Amount A$672 m A$82 m A $27 m A$781m

Credit Enhancement 14.00% 3.5% 0.00%

Pricing 1M BBSW + 19 1M BBSW + 24 1M BBSW + 43

The transaction was well received with 21 domestic and off shore investors participating in the transaction. Approximately 50% of the Notes were distributed to off shore investors.

Key features of the transaction include: ? Super Senior Structure, incorporating Class A, Class AB and Class B Notes. ? Weighted Average Life of the Class A and Class AB Notes are 2.5 years. The Weighted

Average Life of the Class B Notes is 5 years. ? Rated by Standard and Poor's ("S&P"), Moody's Investor Service ("Moody's") and Fitch

Ratings Australia ("Fitch"). ? Credit support provided is higher than the credit support required by S&P, Moody's and Fitch.

This effectively removes the reliance of the Class A Notes on LMI. ? Loans are originated By FirstMac Fiduciary Services Pty Ltd and HSBC Bank Australia

Limited ("HSBC"). ? Call date is the earlier of 5 years or when the receivables balance is equal to or less than

20% of the Initial Invested Amount of the Notes. All loans are mortgage insured.

FirstMac Limited ("FirstMac") is a well known issuer both in Australian and offshore markets, with a dozen issues (in both A$ and Euros) approaching A$6.4 billion of total assets under management. In December 2006, FirstMac purchased HSBC's broker originated loan portfolio. Of the $2.2 billion portfolio acquired in December only 10% are included in Series 1-2007.

Lo Doc Loans comprise 56% and No Doc Loans 44% of the preliminary pool. The weighted Average LVR is 66.24%. The weighted Average LVR of the Lo Doc loans is 72.65%, while the weighted average LVR of the No Doc loans is 58%. The mortgage insurers are Genworth Financial Mortgage Insurance (74 per cent) and PMI Mortgage Insurance (26 per cent).

For further information contact:

Gary Sly Director- Securitisation ANZ Phone: 61 2 9227 1910 Email: slyg1@

For media enquiries contact:

Gayle Austen Head of Marketing & Communications ANZ Institutional Phone: 61 3 9273 6759 Email: austeng@

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