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Westpac adds A$1.08 bln to 2014 govt-backed notes

Thu Jul 9, 2009 3:37am EDT

Stocks

   
 (For the latest Australia and New Zealand bond news, double
click on [AU/CRD] and then double click on the ID number)
 SYDNEY, July 9 (Reuters) - Westpac Banking Corp (WBC.AX),
Australia's second-largest lender, earlier this month added
A$1.08 billion ($843 million) to a 2014 government-backed bond
issue, it said on Thursday.
 The increase consisted of A$780 million in fixed rate and
A$300 million in floating rate notes.
 The offer matures on March 5, 2014 and settles on July 9.
The margins were not disclosed.
 Australian banks have been keen users of a government
guarantee put in place late last year to help them weather the
global financial crisis.
 More than A$102 billion of funds have been raised by
Australian banks, onshore and offshore, with the sovereign
guarantee since its introduction.
 The Australian government guarantee is rated triple A by
all major ratings agencies.
 ($1=A$1.28)
 (Reporting by Cecile Lefort)





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