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Westpac completes funding task

28 July 2010 4:48PM
After raising $US3 billion on Monday Westpac had completed its 2010 funding task, the bank's treasurer Curt Zuber told the Australian Financial Review yesterday.The three and five year notes were sold to 185 investors, most of them in the United States. Zuber said the pricing was 160 basis points over the five year swap rates and 125 points over three year swap. Pricing has dropped 40 basis points from its most recent peak in late May. Zuber said demand for Australian bank paper was strong.

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