By Andrea Heisinger
New York, Sept. 24 - WEA Finance LLC, WT Finance (Australia) Pty. Ltd. and WT Finance (NZ) Ltd., units of Westfield Holdings Ltd., sold $500 million of 3.375% 10-year notes on Monday at a spread of 180 basis points over Treasuries, a market source said.
The notes (A2/A-/) were priced at 98.762 to yield 3.523%. There is a make-whole call option at 30 bps over Treasuries.
The deal was done under Rule 144A and Regulation S.
Bank of America Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC were the bookrunners.
The notes are guaranteed by Westfield Holdings, Westfield Management Ltd. and Westfield America Management Ltd.
Westfield Group, a retail property owner and operator, is based in Sydney, Australia.
| Issuers: | WEA Finance LLC, WT Finance (Australia) Pty. Ltd., WT Finance (NZ) Ltd.
|
| Guarantors: | Westfield Holdings Ltd., Westfield Management Ltd., Westfield America Management Ltd.
|
| Issue: | Notes
|
| Amount: | $500 million
|
| Maturity: | Oct. 3, 2022
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC
|
| Coupon: | 3.375%
|
| Price: | 98.762
|
| Yield: | 3.523%
|
| Spread: | Treasuries plus 180 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
| Distribution: | Rule 144A, Regulation S
|
| Trade date: | Sept. 24
|
| Settlement date: | Oct. 3
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
