Westfield Trust medium term note issue

11 April 2002

Countries: Australia

Westfield Trust today successfully completed an additional $100 million issue of medium term notes (MTNs) into the domestic debt capital markets. Total MTNs on issue by the Trust now amount to $1,315 million.

Details of the issue are as follows:
Type: Floating Rate Notes
Amount: A$100 million
Maturity Date: 16 April 2007
Settlement Date: 16 April 2002
Spread: 57 basis points over the 90 day bank bill swap rate

Westfield Trust carries a rating of “A” (stable) by Standard & Poor’s.

Westfield Director Funds Management Victor Hoog Antink said: “This transaction adds to the recent issuance of A$175 million fixed rate notes and further demonstrates the Trust’s ongoing access to capital markets. Proceeds from the issue will be used to repay existing debt.”

National Australia Bank Limited was sole lead manager for the issue.