By Aleesia Forni
Virginia Beach, May 14 - Westpac Banking Corp. sold a $1.75 billion 2% five-year covered bond during Wednesday's session at mid-swaps plus 35 basis points, or Treasuries plus 44.8 bps, according to a syndicate source.
Pricing was at 99.995 to yield 2.001%.
The notes sold on top of talk.
Westpac, BofA Merrill Lynch, Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC were the joint bookrunners for the Rule 144A and Regulation S deal.
Proceeds from the offering will be used for general corporate purposes.
The banking organization is based in Sydney, Australia.
| Issuer: | Westpac Banking Corp.
|
| Amount: | $1.75 billion
|
| Description: | Covered bond
|
| Maturity: | May 19, 2019
|
| Bookrunners: | Westpac, BofA Merrill Lynch, Citigroup Global Markets Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC
|
| Coupon: | 2%
|
| Price: | 99.995
|
| Yield: | 2.001%
|
| Spread: | Treasuries plus 44.8 bps, or mid-swaps plus 35 bps
|
| Trade date: | May 14
|
| Settlement date: | May 21
|
| Price talk: | Mid-swaps plus 35 bps
|
| Distribution: | Rule 144A, Regulation S
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
