Westpac Raises A$3.54 Billion In Giant Post-Pandemic Bond Deal

0
78
westpac bonds

Westpac Banking Corp has raised $US2.75 billion (A$3.54 billion) of unsecured debt in the US bond market in a giant post-pandemic deal.

Westpac has sold five and 10-year bonds in a deal that marks the first time an Australian bank has tapped the debt markets in this format since the pandemic began.

Also read: Westpac Launches A New Hybrid – Westpac Capital Notes 7

In a piece by Coolabah Capital’s Christopher Joye for livewiremarkets.com, he said it was a “monster senior bond deal” and was “very well received by the market judging from the book size”.

The 5-year Westpac bond issued at 40 basis points over the 5-year US treasury bond while the 10-year priced at 60 basis points over the 10-year US treasury.

Westpac’s bond sale was managed by Bank of America, Citi, Morgan Stanley, RBC Capital Markets, Morgan Stanley and Westpac.

Previous articleNegative Real Yields Unlikely to Last
Next articleWEBINAR: Residential Mortgage Backed Securities (RMBS) with James Austin from Firstmac
Staff Writer
Have you got a fixed income story? To contact our editorial team please email news@fixedincomenews.com.au.

LEAVE A COMMENT

Please enter your comment!
Please enter your name here