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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 January 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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NOTEHOLDERS REPORT - SERIES 1998-1G WST TRUST
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Date of Report - Determination Date 13-Jan-99
Housing Loan Collection Period 10-Oct-98 to 09-Jan-99
(inclusive) (inclusive)
Days in Collection Period 92
Coupon Period 19-Oct-98 to 19-Jan-99
(inclusive) (exclusive)
Days in Coupon Period 92
3-month BBSW at beginning of coupon period 4.7100% 3-month USD-LIBOR 5.34328%
Foreign Exchange Rate 0.62354525564
Available Income 33,575,259.97
Total Available Funds 33,575,259.97
Accrued Interest Adjustment 0.00
Redraws Made This Period 17,280,867.08
Redraw Shortfall 0.00
Redraw Facility Draw 0.00
RFS Issued This Period 0.00
Trust Expenses 1,449,812.11
Total Payments 29,970,848.51
Payment Shortfall 0.00
Principal Draw This Period 0.00
Total Principal Draws Outstanding 0.00
Gross Principal Collections 140,890,518.14
Principal Collections 123,609,651.06
Excess Available Income 3,604,411.46
Excess Collections Distribution 1,421,494.23
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 1,958,396,238.21
Subordinated Percentage 2.5186%
Initial Subordinated Percentage 2.3000%
Average Quarterly Percentage 0.0000%
Reuters Information Principal/100,000 Coupon/100,000
Class A 0.00 5,614.9349 1,257.0934
Class B 0.00 0.0000 1,433.2271
Stated Amount - AUD Equivalent Percentage Forex Percentage Chargeoffs
Class A 1,851,310,076.79 97.48140% 1.00000
Class B 51,800,570.54 2.51860%
RFS 0.00 0.00000
TOTAL 1,903,110,647.33 100.00000% 100.00000%
Stated Amount - USD Bond Factor
Class A 1,154,375,615.09 0.8409526 0.00
Class B 32,300,000.00 1.0000000 0.00
RFS 0.00 0.00
TOTAL 1,186,675,615.09 0.8446090 0.00
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<PAGE>
<CAPTION>
Series 1998-1G WST Trust
DELINQUENCY STATISTICS
Collection Period Ended: 09-Jan-99
<S> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------------------
Current
Number Balance Instalment % by % by
of Loans Outstanding $A Amount $A Number Balance
- ---------------------------------------------------------------------------------------------------------------
Current 17,826 1,782,992,186 13,885,788 93.42% 93.69%
1-29 Days 1,122 106,473,055 903,447 5.88% 5.59%
30-59 Days 97 9,956,559 73,997 0.51% 0.52%
60-89 Days 21 2,407,709 16,866 0.11% 0.13%
90-119 Days 12 1,122,960 8,429 0.06% 0.06%
120-149 Days 1 53,220 380 0.01% 0.00%
150-179 Days 1 104,959 860 0.01% 0.01%
180+ Days 0.00% 0.00%
- ---------------------------------------------------------------------------------------------------------------
Total 19,080 1,903,110,647 14,889,767 100.00% 100.00%
- ---------------------------------------------------------------------------------------------------------------
</TABLE>
$A
Scheduled Principal 13,432,800.79
Unscheduled Principal 107,993,933.04
Principal Collections ----------------
121,426,733.83
----------------
Fixed Interest Rate Housing Loan 353,763,041
Variable Rate Housing Loans 1,549,347,606
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1,903,110,647
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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, (Registrant)
Dated: February 1, 1999 By: /s/ Lewis E. Love, Jr.
--------------------------------
Name: Lewis E. Love, Jr.
--------------------------------
Title: Secretary
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