Westfield Trust $200 million medium term note issue
20 October 1999
Westfield Trust today successfully completed its second issue ofmedium term notes (MTNs) into the domestic debt capital marketsunder the Trust’s $400 million MTN Programme.
The MTN issue of $200 million has a maturity of 15 October 2004.The fixed rate issue was priced at a margin of 123 basis pointsover the September 2004 Commonwealth Government Bond, orapproximately 69 basis points over the equivalent swap rate.
Westfield Trust carries a rating of “A” (stable) by Standard& Poor’s.
Westfield Group Finance Director Stephen Johns said, “Thistransaction completes the long term debt financing for theacquisition from Rodamco on the remaining 50% interests in theParramatta and Liverpool Shoppingtowns, and frees up existing bankfacilities for the Trust’s development program.”
The Commonwealth Bank of Australia was lead manager for thisissue with Australia and New Zealand Banking Group Limited,Macquarie Bank Limited, National Australia Bank Limited, andWarburg Dillon Read Australia Limited, participating asco-managers.