By Andrea Heisinger
New York, Dec. 2 - Australia-based Westpac Banking Corp. sold $2.5 billion of senior notes late on Thursday in three short-dated tranches, a source away from the sale said.
Three-year floating-rate notes were added to the offering before the launch, on demand.
That $400 million tranche of three-year floaters priced at par to yield three-month Libor plus 73 basis points.
A $1.1 billion tranche of 1.85% three-year fixed-rate notes priced at 99.948 to yield Treasuries plus 103 bps.
And a $1 billion tranche of 3% five-year notes sold at 99.894 to yield 135 bps over Treasuries.
All of the notes are non-callable.
Goldman Sachs & Co. and J.P. Morgan Securities LLC ran the books.
Proceeds are being used for general corporate purposes.
The bank and financial services company is based in Sydney.
| Issuer: | Westpac Banking Corp.
|
| Issue: | Senior notes
|
| Amount: | $2.5 billion
|
| Bookrunners: | Goldman Sachs & Co., J.P. Morgan Securities LLC
|
| Trade date: | Dec. 2
|
| Settlement date: | Dec. 9
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
| Fitch: AA
|
|
|
| Three-year floaters
|
| Amount: | $400 million
|
| Maturity: | Dec. 9, 2013
|
| Coupon: | Three-month Libor plus 73 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 73 bps
|
| Call: | Non-callable
|
|
|
| Three-year notes
|
| Amount: | $1.1 billion
|
| Maturity: | Dec. 9, 2013
|
| Coupon: | 1.85%
|
| Price: | 99.948
|
| Spread: | Treasuries plus 103 bps
|
| Call: | Non-callable
|
|
|
| Five-year notes
|
| Amount: | $1 billion
|
| Maturity: | Dec. 9, 2015
|
| Coupon: | 3%
|
| Price: | 99.894
|
| Spread: | Treasuries plus 135 bps
|
| Call: | Non-callable
|
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