Westpac to price benchmark-size notes in three-, five-year maturities in Monday's session

By Andrea Heisinger

New York, Jan. 7 - Westpac Banking Corp. is selling a benchmark-size offering of notes (Aa2/AA-/) in Monday's session, an informed source told Prospect News.

A three-year note is being talked in the Treasuries plus 62.5 basis points area, plus or minus 2.5 bps, and a five-year note has guidance in the Treasuries plus 80 bps area.

Bank of America Merrill Lynch, Citigroup Global Markets Inc. and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used for general corporate purposes.

The Sydney, Australia-based financial services company was last in the U.S. bond market with a $2.25 billion sale of notes in two parts on Sept. 18, 2012.

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