New Issue: Westpac Banking prices $2 billion 3.15% five-year notes at mid-swaps plus 58 bps

By Cristal Cody

Tupelo, Miss., Jan. 7 – Westpac Banking Corp. priced $2 billion of 3.15% five-year notes (Aa3/AA-/AA-) on Monday at a spread of mid-swaps plus 58 basis points, or Treasuries plus 65 bps, according to a market source.

The notes were initially talked to price in the mid-swaps plus 60 bps area.

HSBC Securities (USA) Inc., RBC Capital Markets, LLC, TD Securities (USA) LLC and Westpac Banking Corp. were the bookrunners.

The bank is based in Sydney, Australia.

Issuer:	Westpac Banking Corp.
Amount:	$2 billion
Description:	Notes
Maturity:	Jan. 16, 2024
Bookrunners:	HSBC Securities (USA) Inc., RBC Capital Markets, LLC, TD Securities (USA) LLC and Westpac Banking Corp.
Coupon:	3.15%
Spread:	Mid-swaps plus 58 bps, or Treasuries plus 65 bps
Trade date:	Jan. 7
Ratings:	Moody’s: Aa3
	S&P: AA-
	Fitch: AA-
Price talk:	Mid-swaps plus 60 bps area

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