By Andrea Heisinger
New York, July 21 - Westpac Securities NZ Ltd. priced $1 billion of 3.45% five-year notes on Tuesday with the guarantee of the government of New Zealand, an informed source said.
The notes are priced at 99.782 to yield 3.498% with a spread of Treasuries plus 116.8 basis points. They are non-callable.
The deal was done via Rule 144A.
Bookrunners were Goldman Sachs & Co. and J.P. Morgan Securities.
The subsidiary of Westpac Banking Corp. is based in Sydney, Australia.
| Issuer: | Westpac Securities NZ Ltd.
|
| Issue: | Notes
|
| Amount: | $1 billion
|
| Maturity: | July 28, 2014
|
| Bookrunners: | Goldman Sachs & Co., J.P. Morgan Securities
|
| Coupon: | 3.45%
|
| Price: | 99.782
|
| Yield: | 3.498%
|
| Spread: | Treasuries plus 116.8 bps
|
| Call: | Non-callable
|
| Trade date: | July 21
|
| Settlement date: | July 28
|
| Distribution: | Rule 144A
|
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