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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the Coupon Period ending July 20, 1998
Westpac Securitisation Management Pty Limited
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(Translation of registrant's name into English)
Level 4, 60 Martin Place, Sydney, NSW 2000, Australia
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F_____
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Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes ______ No X
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If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82-______________________.
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NOTEHOLDERS REPORT -SERIES 1998-1G
Date of Report-Determination Date 14-Jul-98
Housing Loan Collection Period 07-May-98 to 09-Jul-98
(inclusive) (inclusive)
Days in Collection Period 64
Coupon Period 10-Jun-98 to 20-Jul-98
(inclusive) (inclusive)
Days in Coupon Period 40
3-month BBSW at beginning of
coupon period 5.6780% 3-month USD-LIBOR 5.66507%
Foreign Exchange Rate 0.62354525564
SUMMARY PAGE
Available Income 26,753,018.38
Total Available Funds 33,829,250.09
Accrued Interest Adjustment 18,593,060.04
Redraws Made This Period 11,056,120.00
Redraw Shortfall 0.00
Redraw Facility Draw 0.00
RFS Issued This Period 0.00
Trust Expenses 546,892.35
Total Payments 33,829,250.09
Payment Shortfall 7,076,231.71
Principal Draw This Period 7,076,231.71
Total Principal Draws Outstanding 7,076,231.71
Gross Principal Collections 100,087,523.39
Principal Collections 89,031,403.39
Excess Available Income 0.00
Excess Collections Distribution 0.00
Liquidity Shortfall 0.00
Liquidity Net Draw/(Repayment) this period 0.00
Remaining Liquidity Shortfall 0.00
Liquidation Loss 0.00
Principal Charge Offs 0.00
Prepayment Benefit Shortfall 0.00
Average Daily Balance for Qtr 2,191,068,497.72
Subordinated Percentage 2.2687%
Initial Subordinated Percentage 2.3000%
Quarterly Percentage 0.000%
Reuters information Principal/100,000 Coupon/100,000
Class A 0.00 3,722.7915 645.0078
Class B 0.00 0.0000 658.8967
Stated Amount - AUD Equivalent Percentage Forex Percentage Chargeoffs
Class A 2,119,488,889.66 97.73127% 1.0000
Class B 51,800,570.54 2.26873%
TOTAL 2,171,289,460.20 100.00000% 100.00000%
Stated Amount - USD Bond Factor
Class A 1,321,597,241.52 0.9627721 0.00
Class B 32,300,000.00 1.0000000 0.00
TOTAL 1,353,897,241.52 0.9636279 0.00
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WST 1998-1G
DELINQUENCY STATISTICS
Collection Period Ended: 09-Jul-98
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Number Current Balance Installment % by % by
of Loans Outstanding $A Amount $A Number Balance
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Current 19,201 2,010,587.906 14,986,160 93.31% 92.90%
1-29 Days 1,299 145,025,895 1,163,214 6.31% 6.70%
20-59 Days 68 7,429,754 54,247 0.33% 0.35%
60-89 Days 9 1,139,773 8,414 0.04% 0.05%
90-119 1 29,901 202 0.00% 0.00%
Days
120-149 0.00% 0.00%
Days
150-179 0.00% 0.00%
Days
180+ Day 0.00% 0.00%
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Total 20,578 2,164,213,229 16,212,23 100.00% 100.00%
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$A
Scheduled Principal 7,830,009.47
Unscheduled Principal 80,722,772.05
Excess received at settlement 478,622.00
Principal Collections ------------------
89,031,403.52
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Fixed Interest Rate Housing Loan 358,469,344
Variable Rate Housing Loans 1,805,743,885
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2,164,213,229
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf, as Trust Manager for the Series 1998-1G WST Trust, by the
undersigned, thereunto duly authorized.
Westpac Securitisation Management Pty Limited,
as Trust Manager for the Series 1998-1G WST Trust,
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(Registrant)
Dated: August 5, 1998 By: /s/ Lewis E. Love
Name: Lewis E. Love
Title: Secretary
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