Westpac Banking eyes two-part sale of fixed-rate, floating-rate notes

By Devika Patel

Knoxville, Tenn., Jan. 3 – Westpac Banking Corp. intends to offer notes in two tranches, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be sold in a fixed-rate tranche and a floating-rate tranche. The floaters will have a coupon based on Libor.

Both portions will be callable in whole but not in part.

BofA Merrill Lynch and HSBC Securities (USA) Inc. are the bookrunners.

Proceeds will be used for general corporate purposes.

The Australian bank and financial services provider is based in Sydney.

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