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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 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- ___________________.
-1-
<PAGE>
<TABLE>
<CAPTION>
NOTEHOLDERS REPORT - SERIES 1998-1G WST TRUST
<S> <C> <C> <C>
Date of Report - Determination Date 13-Jul-99
Housing Loan Collection Period 10-Apr-99 to 09-Jul-99
(inclusive) (inclusive)
Days in Collection Period 91
Coupon Period 19-Apr-99 to 19-Jul-99
(inclusive) (exclusive)
Days in Coupon Period 91
3 month BBSW at beginning of coupon period 4.7800% 3 month USD-LIBOR 5.0000%
Foreign Exchange Rate 0.62354525564
Available Income 28,915,001.43
Total Available Funds 28,915,001.43
Accrued Interest Adjustment 0.00
Redraws Made This Period 23,606,140.73
Redraw Shortfall 0.00
Redraw Facility Draw 0.00
RFS Issued This Period 0.00
Trust Expenses 1,310,607.08
Total Payments 25,341,946.19
Payment Shortfall 0.00
Principal Draw This Period 0.00
Total Principal Draws Outstanding 0.00
Gross Principal Collections 150,928,437.49
Principal Collections 127,322,296.76
Excess Available Income 3,573,155.24
Excess Collections Distribution 3,573,155.24
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 1,720,121,451
Subordinated Percentage 2.8574%
Initial Subordinated Percentage 2.3000%
Average Quarterly Percentage 0.2776%
Reuters Information Principal/100,000 Coupon/100,000
Class A 0.00 5,783.5808 1,020.6713
Class B 0.00 0.0000 1,330.8750
Stated Amount - AUD Equivalent Percentage Forex Percentage Chargeoffs
Class A 1,603,756,522.52 97.14264% 1.00000
Class B 52,800,570.54 2.85736%
RFS 0.00 0.00000
TOTAL 1,655,557,093.06 100.00000% 100.00000%
Stated Amount - USD Bond Factor
Class A 1,000,014,770.82 0.7285021 0.00
Class B 32,300,000.00 1.0000000 0.00
RFS 0.00 0.00
TOTAL 1,032,314,770.82 0.00
</TABLE>
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<PAGE>
<TABLE>
<CAPTION>
WST Trust Series 1998-1G
DELINQUENCY STATISTICS
Collection Period Ended: 09/07/1999
- -----------------------------------------------------------------------------------------------------------------------------
Number Current Balance Instalment % by % by
of Loans Outstanding $A Amount $A Number Balance
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Current 15,952 1,537,245,457 12,094,375 92.82% 92.85%
1-29 1,075 101,905,576 866,225 6.26% 6.16%
Days
30-59 94 10,062,784 72,337 0.55% 0.61%
Days
60-89 40 3,411,604 28,340 0.23% 0.21%
Days
90-119 10 1,445,136 8,411 0.06% 0.09%
Days
120-149 7 676,126 5,139 0.04% 0.04%
Days
150-179 2 155,464 1,087 0.01% 0.01%
Days
180+ 6 654,945 4,450 0.03% 0.04%
Days
- -----------------------------------------------------------------------------------------------------------------------------
Total 17,186 1,655,557,093 13,080,365 100.00% 100.00%
- -----------------------------------------------------------------------------------------------------------------------------
$A
Scheduled Principal 13,760,164
Unscheduled Principal 113,562,133
------------
Principal Collections 127,322,297
------------
Fixed Interest Rate Housing Loan 321,444,216
Variable Rate Housing Loans 1,334,112,877
--------------
1,655,557,093
--------------
</TABLE>
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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 Securitisation Management
Pty Limited, as Trust Manager for
the Series 1998-1G WST Trust,
---------------------------------
(Registrant)
Dated: July 19, 1999 By: /s/ Lucy Beretin
--------------------------------------
Name: Lucy Beretin
------------------------------------
Title: Trust Manager
-----------------------------------
-4-
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