Moody’s rates Westfield debt A3

Moody's Investors Service said it assigned an A3 unsecured debt rating to the guaranteed senior notes of Westfield Corp.’s subsidiaries WEA Finance LLC and Westfield UK & Europe Finance plc.

Each of the three members of Westfield’s stapled entities comprising Westfield Corp. Ltd. and Westfield America Management Ltd., in its separate capacities as responsible entity and trustee of each of WFD Trust and Westfield America Trust, fully guarantees the notes. The notes will be issued in three-, five-, 10- and 30-year tranches.

Proceeds will be used to repay borrowings under Westfield’s syndicated bridge facility totaling about $4.4 billion (due June 2016, with an option to extend by a further year) that was taken out to complete its recent restructuring and for general corporate purposes.

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