By Devika Patel
Knoxville, Tenn., Jan. 4 – Westpac Banking Corp. priced $1.75 billion of fixed- and floating-rate notes (Aa2/AA-) in two tranches on Tuesday, according to an FWP filing with the Securities and Exchange Commission.
Westpac Banking sold $500 million of five-year floating-rate notes at par to yield Libor plus 85 basis points.
The company placed $1.25 billion of 2.8% five-year fixed-rate notes at 99.949 to yield 2.811%, or 88 bps over Treasuries.
HSBC Securities (USA) Inc. and BofA Merrill Lynch were the bookrunners.
The Australian bank and financial services provider is based in Sydney.
| Issuer: | Westpac Banking Corp.
|
| Amount: | $1.75 billion
|
| Description: | Fixed- and floating-rate notes
|
| Bookrunners: | HSBC Securities (USA) Inc. and BofA Merrill Lynch
|
| Trade date: | Jan. 3
|
| Settlement date: | Jan. 11
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA-
|
| Distribution: | SEC registered
|
|
|
| Floaters
|
| Amount: | $500 million
|
| Maturity: | Jan. 11, 2022
|
| Coupon: | Libor plus 85 bps
|
| Price: | Par
|
| Yield: | Libor plus 85 bps
|
|
|
| Fixed-rate notes
|
| Amount: | $1.25 billion
|
| Maturity: | Jan. 11, 2022
|
| Coupon: | 2.8%
|
| Price: | 99.949
|
| Yield: | 2.811%
|
| Spread: | Treasuries plus 88 bps
|
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