By Andrea Heisinger
New York, July 25 - Westpac Banking Corp. gave details of its $1.4 billion sale of five-year senior notes (Aa2/AA-/) priced in two tranches, according to an FWP filing with the Securities and Exchange Commission on Thursday.
There was $650 million of five-year floating-rate notes sold at par to yield Libor plus 74 basis points.
A second tranche was $750 million of 2.25% five-year notes priced at 99.704 to yield 2.313% with a spread of Treasuries plus 93 bps.
The bookrunners were J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC.
Proceeds are being used for general corporate purposes.
Westpac was last in the U.S. bond market with a $1.25 billion sale of five-year covered bonds on May 22.
The banking organization is based in Sydney, Australia.
| Issuer: | Westpac Banking Corp.
|
| Issue: | Senior notes
|
| Amount: | $1.4 billion
|
| Bookrunners: | J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC
|
| Trade date: | July 24
|
| Settlement date: | July 30
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
|
|
| Five-year floaters
|
| Amount: | $650 million
|
| Maturity: | July 30, 2018
|
| Coupon: | Libor plus 74 bps
|
| Price: | Par
|
| Yield: | Libor plus 74 bps
|
| Call: | Non-callable
|
|
|
| Five-year notes
|
| Amount: | $750 million
|
| Maturity: | July 30, 2018
|
| Coupon: | 2.25%
|
| Price: | 99.704
|
| Yield: | 2.313%
|
| Spread: | Treasuries plus 93 bps
|
| Call: | Non-callable
|
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