Westpac Banking lines up four-part note offering, including subordinated tranche

Chicago, Nov. 8 – Westpac Banking Corp. is marketing four new dollar-denominated notes, according to 424B5 filings with the Securities and Exchange Commission.

The Sydney, Australia-based bank is offering a pair of fixed-rate notes and floating-rate notes under one prospectus, due 2025.

A concurrent offering for a fixed-rate note due 2028 is also part of the transaction.

A separate subordinated note offering for fixed-rate notes due in 2033 is being offered under a second prospectus. The notes will qualify as regulatory capital.

The same bookrunners are being used for all of the notes: BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Westpac Banking Corp.

Bank of New York Mellon will be the trustee.

For counsel, King & Wood Mallesons and Debevoise & Plimpton LLP are advising Westpac. Sidley Austin LLP is working as counsel for the underwriters.

Proceeds will be used for general corporate purposes.

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