By Cristal Cody
Eureka Springs, Ark., May 10 – Westpac Banking Corp. sold $4 billion of senior notes (Aa2/AA-) in five tranches, according to an FWP filing with the Securities and Exchange Commission.
The company priced $1.5 billion of 2.85% 10-year notes at 99.612 to yield 2.895%, or Treasuries plus 115 basis points.
Westpac also sold $1.25 billion of 2.1% five-year notes at 99.821 to yield 2.138%. The notes priced with a spread of Treasuries plus 95 bps.
The company also priced a $250 million tranche of five-year floating-rate notes at par to yield Libor plus 100 bps.
Westpac placed $750 million of 1.65% three-year notes at 99.997 to yield 1.651%, or Treasuries plus 80 bps.
The company sold $250 million of three-year floating-rate notes at par to yield Libor plus 71 bps.
Citigroup Global Markets Inc., Goldman Sachs & Co, J.P. Morgan Securities LLC and BofA Merrill Lynch were the bookrunners.
The Australian bank and financial services provider is based in Sydney.
| Issuer: | Westpac Banking Corp.
|
| Amount: | $4 billion
|
| Securities: | Senior notes
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co, J.P. Morgan Securities LLC, BofA Merrill Lynch
|
| Pricing date: | May 9
|
| Settlement date: | May 13
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA-
|
| Distribution: | SEC registered
|
|
|
| 10-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | May 13, 2026
|
| Coupon: | 2.85%
|
| Price: | 99.612
|
| Yield: | 2.895%
|
| Spread: | Treasuries plus 115 bps
|
|
|
| Five-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | May 13, 2021
|
| Coupon: | 2.1%
|
| Price: | 99.821
|
| Yield: | 2.138%
|
| Spread: | Treasuries plus 95 bps
|
|
|
| Five-year floaters
|
| Amount: | $250 million
|
| Maturity: | May 13, 2021
|
| Coupon: | Libor plus 100 bps
|
| Price: | Par
|
| Yield: | Libor plus 100 bps
|
|
|
| Three-year notes
|
| Amount: | $750 million
|
| Maturity: | May 13, 2019
|
| Coupon: | 1.65%
|
| Price: | 99.997
|
| Yield: | 1.651%
|
| Spread: | Treasuries plus 80 bps
|
|
|
| Three-year floaters
|
| Amount: | $250 million
|
| Maturity: | May 13, 2019
|
| Coupon: | Libor plus 71 bps
|
| Price: | Par
|
| Spread: | Libor plus 71 bps
|
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