Westpac Banking talks dollar-denominated covered bonds due 2025 at mid-swaps plus 45 bps area

By Cristal Cody

Tupelo, Miss., Jan. 9 – Westpac Banking Corp. plans to price dollar-denominated global covered bonds due Jan. 16, 2025 (Aaa//AAA) on Thursday, according to a market source.

Initial price talk is in the mid-swaps plus 45 basis points area.

Citigroup Global Markets Inc., HSBC Securities (USA) Inc., RBC Capital Markets, LLC, TD Securities (USA) LLC and Westpac Banking Corp. are the bookrunners of the Rule 144A and Regulation S transaction.

Westpac Banking also is marketing a registered offering of dollar-denominated fixed- and floating-rate notes.

The bank is based in Sydney, Australia.

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