By Cristal Cody
Eureka Springs, Ark., Aug. 11 – Westpac Banking Corp. priced $5 billion of fixed- and floating-rate notes (Aa2/AA-/AA-) in five tranches on Thursday, according to a market source.
Westpac Banking sold $500 million of three-year floating-rate notes at Libor plus 56 basis points.
The company placed $1.5 billion of 1.6% three-year notes at a spread of 75 bps over Treasuries.
Westpac Banking priced $500 million of five-year floating-rate notes at Libor plus 86 bps.
The company sold $1.5 billion of 2% five-year notes with a spread of 87.5 bps over Treasuries.
The final $1 billion tranche of 2.7% 10-year notes priced at 115 bps over Treasuries.
BofA Merrill Lynch, Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and Morgan Stanley & Co. LLC were the bookrunners.
Proceeds will be used for general corporate purposes, according to a 424B5 filed with the Securities and Exchange Commission.
The Australian bank and financial services provider is based in Sydney.
Issuer: | Westpac Banking Corp.
|
Amount: | $5 billion
|
Description: | Fixed- and floating-rate notes
|
Bookrunners: | BofA Merrill Lynch, Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC
|
Trade date: | Aug. 11
|
Ratings: | Moody’s: Aa2
|
| S&P: AA-
|
| Fitch: AA-
|
Distribution: | SEC registered
|
|
Three-year floaters
|
Amount: | $500 million
|
Maturity: | Aug. 19, 2019
|
Coupon: | Libor plus 56 bps
|
|
Three-year notes
|
Amount: | $1.5 billion
|
Maturity: | Aug. 19, 2019
|
Coupon: | 1.6%
|
Spread: | Treasuries plus 75 bps
|
|
Five-year floaters
|
Amount: | $500 million
|
Maturity: | Aug. 19, 2021
|
Coupon: | Libor plus 86 bps
|
|
Five-year notes
|
Amount: | $1.5 billion
|
Maturity: | Aug. 19, 2021
|
Coupon: | 2%
|
Spread: | Treasuries plus 87.5 bps
|
|
10-year notes
|
Amount: | $1 billion
|
Maturity: | Aug. 19, 2026
|
Coupon: | 2.7%
|
Spread: | Treasuries plus 115 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.