By Andrea Heisinger
New York, Dec. 7 - Westpac Banking Corp. priced $3 billion of notes (Aaa/AAA/) in two tranches backed by the Australian government on Monday under Rule 144A, a source away from the sale said.
The $1.5 billion of three-year floating-rate notes priced at par to yield three-month Libor plus 19 basis points.
A $1.5 billion tranche of 1.9% three-year notes priced at 99.948 to yield 1.918%, or Treasuries plus 68.7 bps.
Both tranches are non-callable.
Bank of America Merrill Lynch, J.P. Morgan Securities and Westpac Securities ran the books.
The financial services company is based in Sydney, Australia.
| Issuer: | Westpac Banking Corp.
|
| Guarantor: | Government of Australia
|
| Issue: | Notes
|
| Amount: | $3 billion
|
| Bookrunners: | Bank of America Merrill Lynch, J.P. Morgan Securities, Westpac Securities
|
| Distribution: | Rule 144A
|
| Trade date: | Dec. 7
|
| Settlement date: | Dec. 14
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
|
|
| Three-year floaters
|
| Amount: | $1.5 billion
|
| Maturity: | Dec. 14, 2012
|
| Coupon: | Three-month Libor plus 19 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 19 bps
|
| Call: | Non-callable
|
|
|
| Three-year fixed-rate notes
|
| Amount: | $1.5 billion
|
| Maturity: | Dec. 14, 2012
|
| Coupon: | 1.9%
|
| Price: | 99.948
|
| Yield: | 1.918%
|
| Spread: | Treasuries plus 68.7 bps
|
| Call: | Non-callable
|
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