By Andrea Heisinger
New York, July 26 - Westpac Banking Corp. priced $3 billion of senior unsecured notes (Aa1/AA/AA) on Monday in two tranches, an informed source said.
A $1 billion tranche of 2.1% three-year notes sold at 99.936 to yield 2.122% with a spread of Treasuries plus 117 basis points.
A $2 billion tranche of 3% five-year notes priced at 99.54 to yield 3.1% with a spread of Treasuries plus 137 bps.
Both notes do not have a call option.
HSBC Securities, J.P. Morgan Securities and Morgan Stanley & Co. Inc. were the bookrunners.
Proceeds are being used for general corporate purposes.
The financial services company is based in Sydney, Australia.
| Issuer: | Westpac Banking Corp.
|
| Issue: | Senior unsecured notes
|
| Amount: | $3 billion
|
| Bookrunners: | HSBC Securities, J.P. Morgan Securities, Morgan Stanley & Co. Inc.
|
| Trade date: | July 26
|
| Settlement date: | Aug. 3
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
| Fitch: AA
|
|
|
| Three-year notes
|
| Amount: | $1 billion
|
| Maturity: | Aug. 2, 2013
|
| Coupon: | 2.1%
|
| Price: | 99.936
|
| Yield: | 2.122%
|
| Spread: | Treasuries plus 117 bps
|
| Call: | Non-callable
|
|
|
| Five-year notes
|
| Amount: | $2 billion
|
| Maturity: | Aug. 4, 2015
|
| Coupon: | 3%
|
| Price: | 99.54
|
| Yield: | 3.1%
|
| Spread: | Treasuries plus 137 bps
|
| Call: | Non-callable
|
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