Westpac Banking Corporation : Westpac Banking Sets Pricing on EUR Seven-Year Bond at Swaps +0.55 Area
07/02/2012| 03:48am US/Eastern
By Sarka Halas
Westpac Banking Corp. has set pricing on its euro-denominated, benchmark-size, seven-year covered bond in the area of 55 basis points over midswaps, one of the banks running the deal said Monday.
BNP Paribas SA, HSBC Holdings PLC, UBS Investment Bank and Westpac Banking Corp. are the lead managers on the deal, which is expected to price later Monday.
The Australian covered bond will be backed by 100% prime Australian residential mortgages.
The issuer is rated Aaa by Moody's Investor Services Inc. and AAA by Standard and Poor's Corp.
Write to Sarka Halas at email@example.com