By Andrea Heisinger
New York, Sept. 2 - Westpac Banking Corp. sold $3.5 billion notes (Aaa/AAA/AAA) in two tranches Wednesday, a market source said.
A $1.75 billion tranche of 2.9% five-year fixed-rate notes priced to yield Treasuries plus 65.7 basis points. The price and yield were not available at press time.
The $1.75 billion tranche of five-year floating-rate notes priced at par to yield three-month Libor plus 28 bps.
Both tranches are non-callable.
The notes were priced via Rule 144A and are guaranteed by the Australian government.
Bookrunners were Bank of America Merrill Lynch and Goldman Sachs & Co.
The banking and financial services company is based in Sydney, Australia.
Issuer: | Westpac Banking Corp.
|
Guarantor: | Australian government
|
Issue: | Notes
|
Total amount: | $3.5 billion
|
Bookrunners: | Bank of America Merrill Lynch, Goldman Sachs & Co.
|
Call: | Non-callable
|
Distribution: | Rule 144A
|
Trade date: | Sept. 2
|
Settlement date: | Sept. 10
|
Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
|
Five-year notes
|
Amount: | $1.75 billion
|
Maturity: | Sept. 10, 2014
|
Coupon: | 2.9%
|
Spread: | Treasuries plus 65.7 bps
|
|
Five-year floaters
|
Amount: | $1.75 billion
|
Maturity: | Sept. 10, 2014
|
Coupon: | Three-month Libor plus 28 bps
|
Price: | Par
|
Yield: | Three-month Libor plus 28 bps
|
© 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.