By Devika Patel
Knoxville, Tenn., Feb. 28 – Westpac Banking Corp. priced $3.25 billion of fixed- and floating-rate notes (Aa2/AA-) in three tranches on Monday, according to an FWP filing with the Securities and Exchange Commission.
Westpac Banking sold $600 million of three-year floating-rate notes at par to yield Libor plus 43 basis points.
The company also sold $1.65 billion of 2.15% three-year fixed-rate notes at 99.957 to yield 2.165%, or 72 bps over Treasuries.
Westpac also sold $1 billion of 3.35% 10-year fixed-rate notes at 99.915 to yield 3.36%, or 100 bps over Treasuries.
Citigroup Global Markets Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC and RBC Capital Markets Corp. were the bookrunners.
The Australian bank and financial services provider is based in Sydney.
| Issuer: | Westpac Banking Corp.
|
| Amount: | $3.25 billion
|
| Description: | Fixed- and floating-rate notes
|
| Bookrunners: | Citigroup Global Markets Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC and RBC Capital Markets Corp.
|
| Trade date: | Feb. 27
|
| Settlement date: | March 6
|
| Ratings: | Moody’s: Aa2
|
| S&P: AA-
|
| Distribution: | SEC registered
|
|
|
| Floaters due 2020
|
| Amount: | $600 million
|
| Maturity: | March 6, 2020
|
| Coupon: | Libor plus 43 bps
|
| Price: | Par
|
| Yield: | Libor plus 43 bps
|
|
|
| Fixed-rate notes due 2020
|
| Amount: | $1.65 billion
|
| Maturity: | March 6, 2020
|
| Coupon: | 2.15%
|
| Price: | 99.957
|
| Yield: | 2.165%
|
| Spread: | Treasuries plus 72 bps
|
|
|
| Fixed-rate notes due 2027
|
| Amount: | $1 billion
|
| Maturity: | March 8, 2027
|
| Coupon: | 3.35%
|
| Price: | 99.915
|
| Yield: | 3.36%
|
| Spread: | Treasuries plus 100 bps
|
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