Published on 7/7/2015 in the Prospect News Investment Grade Daily.
New Issue: Westpac sells upsized $800 million covered bond due 2018 at Libor plus 30 bps
By Aleesia Forni
Virginia Beach, July 7 – Westpac Banking Corp. priced an upsized $800 million floating-rate covered bond (Aaa/AAA) due 2018 at par to yield Libor plus 30 basis points on Tuesday, a market source said.
The bond sold in line with price talk.
HSBC Securities and RBC Capital Markets were the bookrunners for the Rule 144A, Regulation S deal.
The banking organization is based in Sydney, Australia.
| Issuer: | Westpac Banking Corp.
|
| Amount: | $800 million, upsized from $750 million
|
| Description: | Covered bond
|
| Maturity: | July 16, 2018
|
| Bookrunners: | HSBC Securities, RBC Capital Markets
|
| Coupon: | Libor plus 30 bps
|
| Price: | Par
|
| Yield: | Libor plus 30 bps
|
| Trade date: | July 7
|
| Ratings: | Moody’s: Aaa
|
| Standard & Poor’s: AAA
|
| Distribution: | Rule 144A, Regulation S
|
| Price talk: | Libor plus 30 bps area
|
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