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 April 19, 1999
Westpac Securitisation Management Pty Limited
---------------------------------------------
(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 ______
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
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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<PAGE>
NOTEHOLDERS REPORT - SERIES 1998-1G WST TRUST
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Date of Report - Determination Date 13-Apr-99
Housing Loan Collection Period 10-Jan-99 to 09-Apr-99
(inclusive) (inclusive)
Days in Collection Period 90
Coupon Period 19-Jan-99 to 19-Apr-99
(inclusive) (exclusive)
Days in Coupon Period 90
3-month BBSW at beginning of coupon period 4.8183% 3-month USD-LIBOR 4.96984%
Foreign Exchange Rate 0.62354525564
Available Income 30,957,759.37
Total Available Funds 30,957,759.37
Accrued Interest Adjustment 0.00
Redraws Made This Period 20,166,445.88
Redraw Shortfall 0.00
Redraw Facility Draw 0.00
RFS Issued This Period 0.00
Trust Expenses 1,341,729.45
Total Payments 26,752,676.66
Payment Shortfall 0.00
Principal Draw This Period 0.00
Total Principal Draws Outstanding 0.00
Gross Principal Collections 140,397,703.39
Principal Collections 120,231,257.51
Excess Available Income 4,204,882.71
Excess Collections Distribution 4,204,882.71
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 1,843,650,616.33
Subordinated Percentage 2.6796%
Initial Subordinated Percentage 2.3000%
Average Quarterly Percentage 0.1953%
Reuters Information Principal/100,000 Coupon/100,000
Class A 0.00 5,461.4723 1,074.2833
Class B 0.00 0.0000 1,308.7100
Stated Amount - AUD Equivalent Percentage Forex Percentage Chargeoffs
Class A 1,731,078,819.28 97.32035% 1.00000
Class B 51,800,570.54 2.67965%
RFS 0.00 0.00000
TOTAL 1,782,879,389.82 100.00000% 100.00000%
Stated Amount - USD Bond Factor
Class A 1,079,405,984.90 0.7863379 0.00
Class B 32,300,000.00 1.0000000 0.00
RFS 0.00 0.00
TOTAL 1,111,705,984.90 0.00
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<PAGE>
<CAPTION>
Series 1998-1G WST Trust
DELINQUENCY STATISTICS
<S> <C> <C> <C> <C> <C>
Collection Period Ended: 09-Apr-99
Number Current Balance Instalment % by % by
of Loans Outstanding $A Amount $A Number Balance
===================================================================================================================================
Current 16,989 1,667,665,262 13,248,883 93.39% 93.54%
1-29 Days 1,015 95,038,700 805,677 5.58% 5.33%
30-59 Days 130 13,867,902 102,150 0.71% 0.78%
60-89 Days 32 3,625,382 25,502 0.18% 0.20%
90-119 Days 12 1,596,552 9,206 0.07% 0.09%
120-149 Days 7 745,276 5,207 0.04% 0.04%
150-179 Days 1 92,237 629 0.01% 0.01%
180+ Days 3 248,079 1,899 0.02% 0.01%
- ---------------------------------------------------------------------------------------------------------------------------
Total 18,189 1,782,879,390 14,199,153 100.00% 100.00%
===========================================================================================================================
</TABLE>
$A
Scheduled Principal 14,237,161.00
Unscheduled Principal 105,994,097.00
-----------------
Principal Collections 120,231,258.00
-----------------
Fixed Interest Rate Housing Loan 353,763,041
Variable Rate Housing Loans 1,429,116,349
1,782,879,390
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<PAGE>
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 Securisatioon Management Pty Limited
as Trust Manager for the Series 1998-1G WST Trust,
(Registrant)
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Dated: April 21, 1999 By: /s/ Lewis E. Love
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Name: Lewis E. Love
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Title: Secretary
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