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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 October 19, 1999
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_____
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
Date of Report - Determination Date 13-Oct-99
Housing Loan Collection Period 10-Jul-99 to 09-Oct-99
(inclusive) (inclusive)
Days in Collection Period 92
Coupon Period 19-Jul-99 to 19-Oct-99
(inclusive) (exclusive)
Days in Coupon Period 92
3 month BBSW at beginning of
coupon period 4.8833% 3 month USD-LIBOR 5.3100%
Foreign Exchange Rate 0.62354525564
Available Income 23,975,306.33
Total Available Funds 23,976,306.33
Accrued Interest Adjustment 0.00
Redraws Made This Period 22,707,164.95
Redraw Shortfall 0.00
Redraw Facility Draw 0.00
RFS Issued This Period 0.00
Trust Expenses 1,196,367.43
Total Payments 23,956,275.87
Payment Shortfall 0.00
Principal Draw This Period 0.00
Total Principal Draws Outstanding 0.00
Gross Principal Collections 145,395,322.50
Principal Collections 122,688,157.55
Excess Available Income 19,030.46
Excess Collections Distribution 19,030.46
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 1,594,173,622
Subordinated Percentage 3.0732%
Initial Subordinated Percentage 2.3000%
Average Quarterly Percentage 0.3283%
Reuters Information Principal/100,000 Coupon/100,000
Class A 0.00 5,573.0763 1.014.6416
Class B 0.00 0.0000 1,424.7222
Stated Amount - AUD Equival Percentage Forex Percentage Chargeoffs
Class A 1,481,068,364.97 96.92680% 1.00000
Class B 51,800,570.64 3.07320%
RFS 0.00 0.00000
TOTAL 1,532,868,935.51 100.00000% 100.00000%
Stated Amount - USD Bond Factor
Class A 929,513,152.26 0.6727713 0.00
Class B 32,300,000.00 1.0000000 0.00
RFS 0.00 0.00
TOTAL 955,813,152.26 0.6802941 0.00
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$A
Scheduled Principal $ 15,726,363
Unscheduled Principal $ 106,961,795
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Principal Collections $ 122,688,158
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Fixed Interest Rate Housing Loan $ 295,347,391
Variable Rate Housing Loans $ 1,237,521,544
$ 1,532,868,936
WST Trust Series 1998-1G
DELINQUENCY STATISTICS
Collection Period Ended: 09-Oct-1999
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Number Current Balance Installment %by % by
of Loans Outstanding $A Amount $A Number Balance
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Current 15,028 1,420,742,635 11,399,725 92.63% 92.69%
1-29 1,046 97,630,830 827,888 6.45% 6.37%
Days
30-59 91 8,631,445 61,588 0.56% 0.56%
Days
60-89 32 3,168,517 24,161 0.20% 0.21%
Days
90-119 10 1,182,927 7,488 0.06% 0.08%
Days
120-149 8 782,861 6,519 0.05% 0.05%
Days
180+ 8 729,719 5,066 0.05% 0.05%
Days
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Total 16,223 1,532,868,936 12,332,435 100.00% 100.00%
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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: October 19, 1999 By: /s/ Lewis E. Love Jr.
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Name: Lewis E. Love Jr.
Title: Director
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