By Mary-Katherine Stinson and Cristal Cody
Lexington, Ky., Feb. 10 – Westpac New Zealand Ltd. sold $750 million 4.902% notes due Feb. 15, 2028 on Thursday, according to a market source.
The notes priced at Treasuries plus 105 basis points after initial talk in the Treasuries plus 130 bps area which was revised during pricing to the Treasuries plus 125 bps area.
Global fixed-income investor calls were held Wednesday.
Westpac Banking Corp., BofA Securities, Inc., Citibank Global Markets Inc., HSBC and JPMorgan are the bookrunners for the Rule 144A and Regulation S deal.
Westpac New Zealand Ltd. is a New Zealand banking subsidiary of Westpac Banking Corp.
| Issuer: | Westpac New Zealand Ltd.
|
| Amount: | $750 million
|
| Issue: | Notes
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| Maturity: | Feb. 15, 2028
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| Bookrunners: | Westpac Banking Corp., BofA Securities, Inc., Citibank Global Markets Inc., HSBC and JPMorgan
|
| Coupon: | 4.902%
|
| Spread: | Treasuries plus 105 bps
|
| Pricing date: | Feb. 9
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 130 bps area
|
| Marketing: | Investor calls
|
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