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Westpac Banking holders tender $2.1 billion of 3.25% notes due 2011
By Susanna Moon
Chicago, Jan. 12 - Westpac Banking Corp. said investors tendered $2,103,533,000 of its $3 billion of 3.25% guaranteed senior notes due Dec. 16, 2011.
The offer expired at midnight ET on Jan. 11. It began on Jan. 3.
As previously noted, the company will pay $1,027.21 for each $1,000 principal amount. Pricing was set on Jan. 11 using the yield to maturity of the 1.125% Treasury notes due Dec. 15, 2011 and a fixed spread of zero. The reference and tender offer yield was 0.311%.
Westpac also will pay accrued interest.
Settlement was expected to occur on Jan. 12.
J.P. Morgan Securities LLC (866 834-4666 or call collect 212 834-2494) was the dealer manager with Westpac Banking Corp. (61 2 8253 4574) as the co-dealer manager outside the United States. Global Bondholder Services Corp. (866 952-2200) was the information agent.
The bank and financial services company is based in Sydney, Australia.
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