EXHIBIT 1
ARMS II Global Fund I
Bondholders Report Related to the June 10, 2004 Distribution
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Reference to ARMS II GLOBAL FUND 1
Schedule 8 of
the Bond BONDHOLDERS REPORT RELATED TO JUNE 10, 2004 DISTRIBUTION
Trust Deed
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REPORTING DATES
Cut-Off Date May 31, 2004
Determination Date June 8, 2004
Payment Date June 10, 2004
Start Interest Period March 10, 2004
End Interest Period June 9, 2004
No. of Days in Interest Period 92
Start Calculation Period March 1, 2004
End Calculation Period May 31, 2004
No. of Days in Calculation Period 92
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SECURITIES ON ISSUE Amount Amount
(US$) (A$)
CLASS A BONDS
Initial Face Value 1,000,000,000 1,525,553,013
Previous Principal Distribution 173,600,000 264,836,003
Principal Distribution for current calculation period 49,000,000 74,752,098
Total Principal Distribution to date 222,600,000 339,588,101
Beginning Principal Amount 826,400,000 1,260,717,010
(a) Ending Principal Amount 777,400,000 1,185,964,912
less Unreimbursed Charge-offs - -
Beginning Stated Amount 826,400,000 1,260,717,010
(a) Ending Stated Amount 777,400,000 1,185,964,912
CLASS B BONDS
Initial Face Value 50,500,000
Previous Principal Distribution -
Principal Distribution for current calculation period -
Total Principal Distribution to date -
Beginning Principal Amount 50,500,000
(a) Ending Principal Amount 50,500,000
less Unreimbursed Charge-offs -
Beginning Stated Amount 50,500,000
(a) Ending Stated Amount 50,500,000
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INTEREST RATE FOR ACCRUAL PERIOD Libor / Interest Interest
Bank Bill Rate Margin Rate
US$
Class A Bonds 1.11000 0.23000 1.34000
A$
Class A Bonds (payable to Currency Swap Provider) 5.54670 0.35100 5.89770
Class B Bonds 5.54670 0.90000 6.44670
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DISTRIBUTIONS PAYABLE ON PAYMENT DATE (US$) (A$)
Interest Entitlement:
(b) Class A Bonds 2,829,961 18,741,108
(b) Class B Bonds 820,585
Principal Repayment:
(c) Class A Bonds 49,000,000 74,752,098
Class B Bonds
(c) Total:
Class A Bonds 51,829,961 93,493,205
Class B Bonds 820,585
Total 51,829,961 94,313,791
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Reference to ARMS II GLOBAL FUND 1
Schedule 8 of
the Bond BONDHOLDERS REPORT RELATED TO MARCH 10, 2004 DISTRIBUTION
Trust Deed
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POOL FACTORS Last Current
Distribution Distribution
Date Date
(h) Class A Bonds 0.8264 0.7774
Class B Bonds 1.0000 1.0000
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(d) INCOME COLLECTIONS FOR CALCULATION PERIOD 60,298,392.98
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AVAILABLE AMORTISATION AMOUNT (A$)
(i) Scheduled Principal Collections 2,823,412
(i) Unscheduled Principal Collections 93,150,560
Gross Principal Collections 95,973,971
less
(g) Redraw Advances, Line of Credit Advances and
Permitted Further Advances 21,202,973
(e) Net Principal Collections 74,770,998
Application of Cash Reserve and Advances
Reserve as Available Amortisation Amount (18,900)
(l) Charge-offs and Unreimbursed Charge-offs 0
(f) Available Amortisation Amount 74,752,098
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PORTFOLIO INFORMATION
(based on Loans forming part of the Assets of the
Fund as at the last day of the Calculation Period)
(j) Aggregate Face Value of Loans 1,231,957,890
Total number of Loans 5,456
Average Loan Balance 225,798.73
Weighted Average LVR 72.4948
Seasoning No of Loans % Total Balance
6 - 12 months 3,103 57.63% 710,003,789
12 - 18 months 1,601 29.99% 369,464,276
18 - 24 months 358 6.70% 82,490,732
24 - 36 months 86 1.53% 18,899,853
36 - 48 months 177 2.59% 31,874,117
48 - 60 months 131 1.56% 19,225,122
> than 60 months 5,456 100.00% 1,231,957,890
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(k) AGGREGATE LOSS AMOUNT NIL
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(m) DELINQUENCY AND LOSSES
DELINQUENCY No of % of (A$) Amount % of
Loans Pool of Loans Pool
31 - 60 days 26 0.48% 5,937,231.88 0.48%
61 - 90 days 12 0.22% 4,414,958.08 0.36%
90+ days 17 0.31% 4,655,055.27 0.38%
LOSSES AUD
Mortgage Insurance claims made Nil
Mortgage Insurance claims paid Nil
Mortgage Insurance claims pending Nil
Mortgage Insurance claims denied Nil
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