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 August 19, 1999
Westpac Securitisation Management Pty Limited
---------------------------------------------
(Translation of registrant's name into English)
Level 4, 60 Martin Place, Sydney, NSW 2000, Australia
-----------------------------------------------------
(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>
<TABLE>
<CAPTION>
NOTEHOLDERS REPORT - SERIES 1999-1G WST TRUST
<S> <C> <C> <C>
Date of Report - Determination Date 13-Aug-99
Housing Loan Collection Period 01-Apr-99 to 09-Aug-99
(inclusive) (inclusive)
Days in Collection Period 131
Coupon Period 13-May-99 to 19-Aug-99
(inclusive) (exclusive)
Days in Coupon Period 98
3 month BBSW at beginning of coupon period 4.8523% 3 month USD-LIBOR 5.00435%
Foreign Exchange Rate 0.6550
Available Income 31,221,254.94
Total Available Funds 33,963,066.52
Accrued Interest Adjustment 12,848,465.01
Redraws Made This Period 37,255,372.29
Redraw Shortfall 0.00
Redraw Facility Draw 0.00
RFS Issued This Period 0.00
Trust Expenses 938,099.61
Total Payments 33,963,056.52
Payment Shortfall 2,741,801.58
Principal Draw This Period 2,741,801.58
Total Principal Draws Outstanding 2,741,801.58
Gross Principal Collections 146,630,718.40
Principal Collections 109,375,346.11
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 1,312,767,960
Subordinated Percentage 2.3882%
Initial Subordinated Percentage 2.4400%
Average Quarterly Percentage 0.0000%
Reuters Information Principal/100,000 Coupon/100,000
Class A 0.00 7,901.9088 1,416.7397 usd/100.000
Class B 0.00 0.0000 147.1960 aud/10.000
Stated Amount - AUD Equivalent Percentage Forex Percentage Chargeoffs
Class A 1,242,832,104.32 97.61183% 1.00000
Class B 33,750,000.00 2.38817%
RFS 0.00 0.00000
100.00000%
TOTAL 1,276,582,104.32 100.00000%
Stated Amount - USD Bond Factor
Class A 814,055,028.33 0.9209809 0.00
Class B 22,106,250.00 1.0000000 0.00
RFS 0.00 0.00
TOTAL 836,161,278.33 0.9229090 0.00
</TABLE>
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<PAGE>
$A
Scheduled Principal 12,425,949
Unscheduled Principal 96,890,848
---------------
Principal Collections 109,316,797
---------------
Fixed Interest Rate Housing Loan 303,520,152
Variable Rate Housing Loans 970,320,151
1,273,840,303
<TABLE>
<CAPTION>
WST TRUST SERIES 1999-1G
DELINQUENCY STATISTICS
Collection Period Ended: August 9, 1999
- --------------------------------------------------------------------------------------------------------------------------
Number Current Balance Instalment % by % by
of Loans Outstanding Amount Number Balance
(A$) (A$)
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Current 11,310 1,182,067,743.88 8,568,978 93.29% 92.80%
1-29 749 84,011,167.97 583,018 6.18% 6.60%
Days
30-59 46 5,655,105.54 38,420 0.38% 0.44%
Days
60-89 13 1,331,765.56 9,544 0.11% 0.10%
Days
90-119 5 739,519.79 5,192 0.04% 0.06%
Days
120-149 1 35,000.00 232 0.01% 0.00%
Days
150-179 0 0.00 0.00 0.00% 0.00%
Days
180+ 0 0.00 0.00 0.00% 0.00%
Days
- --------------------------------------------------------------------------------------------------------------------------
Total 12,124 1,273,840,302.74 9,205,384 100.00% 100.00%
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
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<PAGE>
Other Events
On May 13, 1999, Westpac Securities Administration Limited, in its
capacity as Issuer Trustee (the "Issuer Trustee") of the Series 1999-1G
WST Trust (the "Trust"), publicly issued U.S.$883,900,000 of Class A
Mortgage Backed Floating Rate Notes due May 19, 2030 (the "Notes")
pursuant to a registration statement (No. 333-64199) declared effective
on May 5, 1999. The joint lead managers for the issuance of the Notes
were J.P. Morgan Securities Inc., Morgan Stanley & Co. Incorporated and
Westpac Banking Corporation. Westpac Banking Corporation paid the
underwriters a fee of U.S.$1,325,850 in connection with the sale of the
Notes. Westpac Banking Corporation also paid general transaction
expenses, estimated to be U.S.900,561.20. The net proceeds from the
sale of the Notes, which amounted to U.S.883,900,000, were used by the
Issuer Trustee to acquire equitable title to the housing loans and
related mortgages included in the assets of the Trust from Westpac
Banking Corporation and for general expenses relating to the Trust,
including any premiums payable to any of the swap providers for the Trust.
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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 1999-1G WST Trust, by the
undersigned, thereunto duly authorized.
Westpac Securitisation Management Pty
Limited, as Trust Manager for the Series
1999-1G WST Trust,
----------------------------------------
(Registrant)
Dated: August 19, 1999 By: /s/ Lewis E. Love
-------------------------------------
Name: Lewis E. Love
-----------------------------------
Title: Director and Secretary
----------------------------------
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