Westpac raises Ç1.5 billion via five-year bond

Demand for the fixed-rate notes reaches Ç2.9 billion as 120 accounts participate in the deal.

Australia's Westpac Banking Corporation raised Ç1.5 billion earlier this week, pricing its five-year senior unsecured fixed-rate bond at 4.874% - or a spread of 42bp over mid-swaps - after generating demand of Ç2.9 billion.

The deal was rated Aa1AAAA- and was managed by HSBC and UBS.

Having monitored the market for some weeks, Westpac eventually found a window of opportunity on Monday. The deal initially failed to generate much interest among European institutional investors, but despite...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: wetpac | hsbc | ubs

Print Edition

FinanceAsia Print Edition