By Andrea Heisinger
New York, Nov. 17 - Westpac Banking Corp. sold $1 billion of 2.45% five-year covered bonds on Thursday to yield Treasuries plus 160.55 basis points, a market source said.
The bonds (Aaa/AAA/) were priced at 99.813 to yield 2.49%. They are non-callable.
The debt was sold under Rule 144A and Regulation S.
Barclays Capital Inc., Bank of America Merrill Lynch, Nomura Securities and Westpac Securities were the bookrunners.
The bank and financial services company is based in Sydney, Australia.
| Issuer: | Westpac Banking Corp.
|
| Issue: | Covered bonds
|
| Amount: | $1 billion
|
| Maturity: | Nov. 28, 2016
|
| Bookrunners: | Barclays Capital Inc., Bank of America Merrill Lynch, Nomura Securities, Westpac Securities
|
| Coupon: | 2.45%
|
| Price: | 99.813
|
| Yield: | 2.49%
|
| Spread: | Treasuries plus 160.55 bps
|
| Call: | Non-callable
|
| Distribution: | Rule 144A and Regulation S
|
| Trade date: | Nov. 17
|
| Settlement date: | Nov. 28
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
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