By Cristal Cody
Chicago, Nov. 16 – Westpac Banking Corp. added another $1.75 billion issue of notes on Monday to its monthly total, which includes a recently priced $5.5 billion of notes in five tranches with subordinated notes from Nov. 8, according to a market source.
The bank sold a tranche of 1.552% notes due Sept. 30, 2026 at a spread of SOFR mid-swaps plus 45 basis points. Initial price talk had the notes expected in the SOFR mid-swaps plus 46 bps area.
RBC Capital Markets LLC, TD Securities and Westpac Banking worked as bookrunners.
Westpac is one of the four major banks in Australia and one of the five major banks in New Zealand.
| Issuer: | Westpac Banking Corp.
|
| Issue: | Notes
|
| Amount: | $1.75 billion
|
| Maturity: | Sept. 30, 2026
|
| Bookrunners: | RBC Capital Markets LLC, TD Securities and Westpac Banking
|
| Coupon: | 1.552%
|
| Spread: | SOFR mid-swaps plus 45 bps
|
| Trade date: | Nov. 15
|
| Price talk: | SOFR mid-swaps plus 46 bps area
|
|
|
© 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.
