New Issue: Westpac Banking sells $1 billion 2.25% five-year notes at mid-swaps plus 80 bps

By Aleesia Forni

Virginia Beach, Nov. 2 – Westpac Banking Corp. sold $1 billion 2.25% five-year covered bonds on Monday at mid-swaps plus 80 basis points, according to an informed source.

The Rule 144A and Regulation S notes (Aaa/AAA) sold in line with initial price thoughts.

Bookrunners were Citigroup Global Markets Inc., HSBC Securities, Morgan Stanley, RBC Capital Markets LLC and Westpac.

The banking organization is based in Sydney, Australia.

Issuer:	Westpac Banking Corp.
Amount:	$1 billion
Description:	Covered bond
Maturity:	2020
Bookrunners:	Citigroup Global Markets Inc., HSBC Securities, Morgan Stanley, RBC Capital Markets LLC, Westpac
Coupon:	2.25%
Spread:	Mid-swaps plus 80 bps
Trade date:	Nov. 2
Ratings:	Moody’s: Aaa
	Fitch: AAA
Distribution:	Rule 144A, Regulation S
Price guidance:	Mid-swaps plus 80 bps area

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