By Andrea Heisinger
New York, Sept. 18 - Westpac Banking Corp. priced $2.25 billion of senior notes (Aa2/AA-/) in two tranches on Tuesday, an informed source said.
A $1 billion tranche of three-year floating-rate notes priced at par to yield Libor plus 76 basis points.
The second part was $1.25 billion of 1.125% three-year notes sold at 99.715 to yield 1.222% with a spread of 87.5 bps over Treasuries.
Bookrunners were Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC.
Proceeds will be used for general corporate purposes.
Westpac last sold bonds in the U.S. market in a $1.25 billion deal with a five-year maturity on Aug. 6.
The banking and financial services company is based in Sydney, Australia.
| Issuer: | Westpac Banking Corp.
|
| Issue: | Senior notes
|
| Amount: | $2.25 billion
|
| Bookrunners: | Citigroup Global Markets Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC
|
| Co-manager: | Wells Fargo Securities LLC
|
| Trade date: | Sept. 18
|
| Settlement date: | Sept. 25
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
|
|
| Three-year floaters
|
| Amount: | $1 billion
|
| Maturity: | Sept. 25, 2015
|
| Coupon: | Libor plus 76 bps
|
| Price: | Par
|
| Yield: | Libor plus 76 bps
|
|
|
| Three-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | Sept. 25, 2015
|
| Coupon: | 1.125%
|
| Price: | 99.715
|
| Yield: | 1.222%
|
| Spread: | Treasuries plus 87.5 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.
