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Westpac Banking. 60IP Buyback of debt



  Westpac Banking. (60IP) - Buyback of debt

RNS Number : 7766R
Westpac Banking Corporation
22 November 2012
 



 

           Westpac buys back A$3.37bn in Government Guaranteed debt

 

Westpac has today purchased and cancelled A$3.37bn in Government Guaranteed
senior medium term notes (originally due in March 2014 and November 2014) out
of a total of A$4.92bn of these particular notes originally on issue. The
domestic buy-back follows a conditional offer announced on 9 November 2012 and
reduces Westpac's refinancing requirements in the 2014 financial year by
A$2.94bn and by A$434m in the 2015 financial year. This further strengthens
Westpac's funding position, following the material improvement to its funding
profile announced as part of its 2012 full year financial results.

 

Effective 22 November 2012, Westpac has purchased and cancelled the following
medium term notes pursuant to the terms and conditions of such notes issued
under Westpac's Debt Issuance Programme and a conditional offer to purchase
recorded in an Offer Memorandum dated 9 November 2012:

 

·    14,532 Series 2009G-2 Fully Paid Floating Rate Medium Term Notes
guaranteed by the Commonwealth of Australia (ASX Code: WBCHAD) having a face
value of A$1,453,200,000. The outstanding balance of Series 2009G-2 is 968
notes which have a face value of A$96,800,000.^1

 

·    14,875 Series 2009G-3 Fully Paid Fixed Rate Medium Term Notes guaranteed
by the Commonwealth of Australia (ASX Code: WBCHAC) having a face value of
A$1,487,500,000. The outstanding balance of Series 2009G-3 is 5,775 Notes
which have a face value of $577,500,000.

 

·    4,340 Series 2009G-6 Fully Paid Fixed Rate Medium Term Notes guaranteed
by the Commonwealth of Australia (ASX Code: WBCHAK) having a face value of
A$434,000,000. The outstanding balance of Series 2009G-6 is 6,660 notes which
have a face value of A$666,000,000.

 

Tim Hartin

 

Group Company Secretary

Westpac Banking Corporation

 

Group Secretariat

Level 20, 275 Kent Street

Sydney NSW 2000 Australia

Telephone: (02) 8253 0390

Facsimile: (02) 8253 1215

thartin@westpac.com.au

 

^1 In addition to the notes of this series bought back and cancelled today, on
20 September 2012 Westpac purchased and cancelled notes in this series with a
face value of A$200,000,000.

 

 

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
END
 
 
MSCUUOKRUUAAURA -0- Nov/22/2012 09:34 GMT
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