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UPDATE 1-Westpac prices A$2 bln 5-year bonds at 110 bps

Tue Aug 11, 2009 2:39am EDT

Stocks

    
 (For the latest Australia and New Zealand bond news, double
click on [AU/CRD] and then double click on the ID number)
 (Adds deal details)
 SYDNEY, Aug 11 (Reuters) - Westpac Banking Corp (WBC.AX),
Australia's second-largest lender, has priced A$2 billion ($1.7
billion) of five-year fixed and floating rate notes at 110
basis points over BBSW and swap, it said on Tuesday.
 The issue, also arranged by Westpac, was not backed by the
Australian government.
  Deal details are as follows:
  Issuer:         Westpac Banking Corp
  Facility:       Domestic fixed and floating rate notes
  Amount issued:  A$2 billion
  Maturity:       Aug. 18 2014
  Set date:       Aug. 18
  Lead:           Westpac
  Co-manager:     JPMorgan
  Issue ratings:  AA  (S&P), Aa1 (Moody's)
  Tranche:        fixed            FRN
  Amount:         A$825 mln        A$1.175 bln
  Coupon:         7.00%            +110bp/BBSW
  Yield:          6.97%            +110bp/BBSW
  Spread:         +110bp/swap      +110bp/BBSW
  Issue price     100.125          100
 ($1=1.199 Australian Dollar)
 (Reporting by Cecile Lefort)



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