By Aleesia Forni
Virginia Beach, May 14 - Westpac Banking Corp. sold $2.5 billion of senior notes (Aa2/AA-) in two tranches on Wednesday, according to a syndicate source.
The bank sold $1.25 billion of floating-rate notes due 2017 at par to yield Libor plus 33 basis points.
A second tranche was $1.25 billion of 1.2% three-year notes sold at 99.895 to yield 1.236%, or Treasuries plus 43 bps.
The notes sold at the tight end of talk.
BofA Merrill Lynch, Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC were the joint bookrunners.
Proceeds from the offering will be used for general corporate purposes.
The banking organization is based in Sydney, Australia.
| Issuer: | Westpac Banking Corp.
|
| Issue: | Senior notes
|
| Amount: | $2.5 billion
|
| Joint bookrunners: | BofA Merrill Lynch, Citigroup Global Markets Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC
|
| Trade date: | May 14
|
| Settlement date: | May 21
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Distribution: | SEC-registered
|
|
|
| Three-year floaters
|
| Amount: | $1.25 billion
|
| Maturity: | May 19, 2017
|
| Coupon: | Libor plus 33 bps
|
| Price: | Par
|
| Yield: | Libor plus 33 bps
|
| Price talk: | Libor plus 35 bps area
|
|
|
| Three-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | May 19, 2017
|
| Coupon: | 1.2%
|
| Price: | 99.895
|
| Yield: | 1.236%
|
| Spread: | Treasuries plus 43 bps
|
| Price talk: | Treasuries plus 45 bps area
|
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