By Andrea Heisinger
New York, May 21 - Westpac Securities NZ Ltd. priced $1.5 billion 2.5% three-year notes Thursday that are guaranteed by the government of New Zealand, an informed source said.
The non-callable notes (Aaa/AA+/AA+) priced at 99.931 to yield 2.524%, or 80 basis points over mid-swaps.
The notes were priced via Rule 144A.
Bookrunners were Barclays Capital Inc., Citigroup Global Markets Inc. and Westpac Securities.
The financial services company is based in Auckland, New Zealand.
| Issuer: | Westpac Securities NZ Ltd.
|
| Guarantor: | Government of New Zealand
|
| Issue: | Notes
|
| Amount: | $1.5 billion
|
| Maturity: | May 25, 2012
|
| Bookrunners: | Barclays Capital Inc., Citigroup Global Markets Inc., Westpac Securities
|
| Coupon: | 2.5%
|
| Price: | 99.931
|
| Yield: | 2.524%
|
| Spread: | 80 bps over mid-swaps
|
| Call: | Non-callable
|
| Distribution: | Rule 144A
|
| Trade date: | May 21
|
| Settlement date: | May 27
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
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