Westpac opens domestic benchmark market for major banks with A$3 billion dual-tranche issue [UPDATED]
- Friday, 14 February 2014
Westpac Banking Corporation (Westpac) (AA-/Aa2/AA-) priceda new, self-led five-year Australian dollar deal on February 14, becoming the first of Australia's big-four banks to launch a domestic benchmark in 2014. According to KangaNews data, the borrower's previous domestic issue was a A$900 million (US$805.1 million) covered bond placed in November last year. That deal priced at 85 basis points over semi-quarterly swap.
