Macquarie Bank upsized its senior note offering targeting US investors in its latest auto lease-backed securitization deal to $750 million from $500 million, according a deal prospectus filed with US Securities and Exchange Commission on Wednesday.

J.P. Morgan and RBS are joint lead managers on the US dollar portion of the deal called SMART ABS Series 2013-2US Trust. The class A-1 notes upsized to $142.5 million from $95 million; the A-2 notes upsized to $187.5 million from $125 million; the class A-3 notes were upsized to $217.5 million from $145 million; and the A-4 notes upsized to $200.5 million from $135 million.

According to Fitch Ratings who rated the deal, the collateral backing the 2013-2US Trust transaction is of similar credit quality to prior pools securitized under the SMART program.

The pool comprises lease receivables backed by motor vehicles with weighted-average (WA) seasoning of 6.2 months and average receivable size of AUD35.614. “Novated contracts make up 65% of the pool, and contributed to the relatively low arrears levels on prior SMART transactions,” explained Fitch analysts.

Macquarie Bank priced its last deal, $500 million SMART ABS Series 2013-1US Trust, in January.

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