Westpac Banking to sell fixed-rate, floating rate notes in two parts

By Mary-Katherine Stinson

Lexington, Ky., Nov. 9 – Westpac Banking Corp. intends to sell two tranches of notes in fixed-rate and floating-rate tranches, according to a 424B5 filing with the Securities and Exchange Commission.

The floating-rate notes will bear interest at SOFR plus an applicable margin.

Both tranches of notes will be non-callable.

BofA Securities, Inc., Citigroup Global Markets Inc., JPMorgan Securities LLC and Westpac Banking Corp. are the bookrunners.

Bank of New York Mellon is the trustee.

King & Wood Mallesons will act as the issuer’s Australian counsel and Debevoise & Plimpton LLP as U.S. counsel. Sidley Austin LLP will be counsel for the underwriters.

The Sydney, Australia-based bank plans to use the proceeds for general corporate purposes.

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