By Cristal Cody
Tupelo, Miss., Jan. 10 – Westpac Banking Corp. priced $2.25 billion of notes (Aa3/AA-) in three tranches on Thursday, according to a market source.
The company sold $750 million of floating-rate notes due Jan. 13, 2023 at par to yield Libor plus 39 basis points.
A $750 million tranche of 2% notes due Feb. 13, 2023 priced at 99.983 to yield 2.006%, or a spread of Treasuries plus 42 bps.
Westpac sold $750 million of 2.65% notes due Jan. 16, 2030 with a Treasuries plus 80 bps spread. The notes priced at 99.956 to yield 2.655%.
The notes are non-callable.
Citigroup Global Markets Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, RBC Capital Markets Corp., TD Securities (USA) 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: | $2.25 billion
|
| Description: | Notes
|
| Bookrunners: | Citigroup Global Markets Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, RBC Capital Markets Corp., TD Securities (USA) LLC and Westpac Banking Corp.
|
| Trade date: | Jan. 9
|
| Settlement date: | Jan. 16
|
| Ratings: | Moody’s: Aa3
|
| S&P: AA-
|
| Distribution: | SEC registered
|
|
|
| Three-year floaters
|
| Amount: | $750 million
|
| Maturity: | Jan. 13, 2023
|
| Coupon: | Libor plus 39 bps
|
| Price: | Par
|
| Yield: | Libor plus 39 bps
|
| Call feature: | None
|
|
|
| Three-year notes
|
| Amount: | $750 million
|
| Maturity: | Feb. 13, 2023
|
| Coupon: | 2%
|
| Price: | 99.983
|
| Yield: | 2.006%
|
| Spread: | Treasuries plus 42 bps
|
| Call feature: | None
|
|
|
| 10-year notes
|
| Amount: | $750 million
|
| Maturity: | Jan. 16, 2030
|
| Coupon: | 2.65%
|
| Price: | 99.956
|
| Yield: | 2.655%
|
| Spread: | Treasuries plus 80 bps
|
| Call feature: | None
|
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