By Andrea Heisinger
New York, Sept. 2 - Westpac Banking Corp. sold $3.5 billion notes (Aaa/AAA/AAA) in two tranches Wednesday, a market source said.
A $1.75 billion tranche of 2.9% five-year fixed-rate notes priced to yield Treasuries plus 65.7 basis points. The price and yield were not available at press time.
The $1.75 billion tranche of five-year floating-rate notes priced at par to yield three-month Libor plus 28 bps.
Both tranches are non-callable.
The notes were priced via Rule 144A and are guaranteed by the Australian government.
Bookrunners were Bank of America Merrill Lynch and Goldman Sachs & Co.
The banking and financial services company is based in Sydney, Australia.
| Issuer: | Westpac Banking Corp.
|
| Guarantor: | Australian government
|
| Issue: | Notes
|
| Total amount: | $3.5 billion
|
| Bookrunners: | Bank of America Merrill Lynch, Goldman Sachs & Co.
|
| Call: | Non-callable
|
| Distribution: | Rule 144A
|
| Trade date: | Sept. 2
|
| Settlement date: | Sept. 10
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
|
|
| Five-year notes
|
| Amount: | $1.75 billion
|
| Maturity: | Sept. 10, 2014
|
| Coupon: | 2.9%
|
| Spread: | Treasuries plus 65.7 bps
|
|
|
| Five-year floaters
|
| Amount: | $1.75 billion
|
| Maturity: | Sept. 10, 2014
|
| Coupon: | Three-month Libor plus 28 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 28 bps
|
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