By Aleesia Forni
Virginia Beach, Nov. 18 - Westpac Banking Corp. was in the market on Monday with a $1.75 billion two-part issue of fixed- and floating-rate notes due 2016, according to an informed source.
The sale included $1.25 billion of three-year notes priced at par to yield Libor plus 43 basis points.
There was also $500 million of 1.05% notes due 2016 priced with a spread of Treasuries plus 52 bps, or 99.938 to yield 1.071%.
The bookrunners are Citigroup Global Markets Inc., J.P. Morgan Securities LLC and RBC Capital Markets LLC.
Proceeds will be used for general corporate purposes.
Westpac was last in the market with a $1.4 billion sale of five-year senior notes priced in two tranches on July 24.
There was $650 million of floating-rate notes priced at par to yield Libor plus 74 basis points and $750 million of 2.25% notes priced at Treasuries plus 93 bps.
| Issuer: | Westpac Banking Corp.
|
| Issue: | Senior notes
|
| Amount: | $1.75 billion
|
| Joint bookrunners: | Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets LLC.
|
| Trade date: | Nov. 18
|
| Settlement date: | Nov. 25
|
|
|
| Floaters due 2016
|
| Amount: | $1.25 billion
|
| Maturity: | Nov. 25, 2016
|
| Coupon: | Libor plus 43 bps
|
| Price: | Par
|
| Yield: | Libor plus 43 bps
|
|
|
| Notes due 2016
|
| Amount: | $500 million
|
| Maturity: | Nov. 25, 2016
|
| Coupon: | 1.05%
|
| Price: | 99.938
|
| Yield: | 1.071%
|
| Spread: | Treasuries plus 52 bps
|
| Price talk: | Treasuries plus 55 bps area
|
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