Westpac takes size in sevens

Westpac_230px
By Bill Thornhill
04 Jan 2018

Westpac and Santander UK returned to the euro covered bond market on Thursday. Though early book momentum was marginally stronger in the Australian deal, the oversubscription ratios for both deals was rather low. Meanwhile, Stadshypotek showed that there is still good scope for further sterling covered bond supply.

Westpac opened order books for a seven and 15 year benchmark on Thursday, setting the initial spreads at 5bp area and 13bp area respectively.

The book was quick to grow, with the seven year attracting €1bn orders and the 15 year bringing demand of more than ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.