Firstmac Bond Series 3-2005 $450 million mortgage backed securitisation issue prices today

06 December 2005

Macquarie Debt Markets announced today that it has priced the FirstMac 3-2005 residential mortgage backed securitisation issue that was recently launched by the FirstMac Group.

Macquarie is arranger and joint lead manager of the transaction and HSBC Bank plc is the other joint lead manager.

The issue is backed by a pool of 100 per cent self certified loans. This is the second self certified loan transaction from FirstMac in 2005.

Pricing is as follows:

Class Size $M Interest Rate Option Expected Rating (S&P/ Moody's) WAL (years) Margin (bps)
A 395 Floating AAA/Aaa 2.24 0.22
AB 41.5 Floating AAA/Aa1 2.24 0.26
B 13.5 Floating AA/Aa2 4.23 0.40

Teresa Neal, Associate Director of Macquarie Bank Debt Markets said: "We are delighted with the results of the transaction. Investors particularly welcomed the robust credit support structure and the issue was therefore very well received. All classes of Notes were oversubscribed at the clearing level.

Around 20 investors participated in the transaction including some new investors to FirstMac issues. Approximately 45 per cent of the issue was placed offshore, largely to Asia."

The issue will settle on 12 December 2005.

For further information, please contact:

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

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