By Devika Patel
Knoxville, Tenn., Jan. 18 – Westpac Banking Corp. offered further details about a $2.5 billion sale of notes (Aa3/AA-/AA-) that priced in three parts on Wednesday, according to an FWP filed with the Securities and Exchange Commission.
The company sold $500 million of three-year floating-rate notes at Libor plus 34 basis points. These notes priced at par.
Westpac Banking priced $1 billion of 2.65% three-year notes with a spread of Treasuries plus 52 bps. These notes priced at 99.931 to yield 2.674%.
The $1 billion tranche of 3.4% 10-year notes were placed with a Treasuries plus 87 bps spread. These notes priced at 99.647 to yield 3.442%.
BofA Merrill Lynch, Goldman Sachs & Co., Morgan Stanley & Co. LLC and Westpac Banking Corp. were the bookrunners.
The Sydney, Australia-based bank plans to use the proceeds for general corporate purposes.
| Issuer: | Westpac Banking Corp.
|
| Amount: | $2.5 billion
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Goldman Sachs & Co., Morgan Stanley & Co. LLC and Westpac Banking Corp.
|
| Trade date: | Jan. 17
|
| Settlement date: | Jan. 25
|
| Ratings: | Moody’s: Aa3
|
| S&P: AA-
|
| Fitch: AA-
|
| Distribution: | SEC registered
|
|
|
| Three-year floaters
|
| Amount: | $500 million
|
| Maturity: | Jan. 25, 2021
|
| Coupon: | Libor plus 34 bps
|
| Price: | Par
|
| Call: | Non-callable
|
|
|
| Three-year notes
|
| Amount: | $1 billion
|
| Maturity: | Jan. 25, 2021
|
| Coupon: | 2.65%
|
| Price: | 99.931
|
| Yield: | 2.674%
|
| Spread: | Treasuries plus 52 bps
|
| Call: | Non-callable
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | Jan. 25, 2028
|
| Coupon: | 3.4%
|
| Price: | 99.647
|
| Yield: | 3.442%
|
| Spread: | Treasuries plus 87 bps
|
| Call: | Non-callable
|
|
|
|
|
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