Bond WestPac Bank 1.15% ( US961214ER00 ) in USD

Issuer	WestPac Bank
Market price	100 % ▲
Country	Australia
ISIN code	US961214ER00 ( in USD )
Interest rate	1.15% per year ( payment 2 times a year)
Maturity	03/06/2026
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Minimal amount	2 000 USD
Total amount	1 450 000 000 USD
Cusip	961214ER0
Standard & Poor's ( S&P ) rating	AA- ( High grade - Investment-grade )
Moody's rating	Aa3 ( High grade - Investment-grade )
Next Coupon	03/12/2025 ( In 123 days )
Detailed description	Westpac Banking Corporation is Australia's second-largest bank by assets, offering a diverse range of financial services including personal and business banking, wealth management, and institutional banking across Australia, New Zealand, and the Pacific Islands. An in-depth analysis of a specific debt instrument, identified by its ISIN code US961214ER00 and CUSIP code 961214ER0, provides valuable insights into the funding activities of Westpac Banking Corporation. Westpac, a cornerstone of the Australian financial sector, is one of the nation's "Big Four" banks and boasts a rich history as Australia's first and oldest company, established in 1817 as the Bank of New South Wales. Headquartered in Sydney, this prominent Australian issuer offers a comprehensive suite of banking and financial services to millions of customers across retail, business, and institutional segments in Australia, New Zealand, and the Pacific Islands, solidifying its significant standing within the global banking landscape. This particular bond, denominated in United States Dollars (USD), carries a coupon interest rate of 1.15% and has a maturity date set for June 3, 2026. The total issue size for this bond stands at a substantial USD 1,450,000,000, reflecting a significant capital raise by Westpac to support its operations and growth initiatives. Investors looking to acquire this bond can do so with a minimum purchase size of USD 2,000, making it accessible while ensuring a structured approach to investment. Currently, the bond is trading at 100% of its face value on the market, indicating that it is priced at par, which suggests its yield aligns closely with its coupon rate in the current market environment. Interest payments on this bond are scheduled with a frequency of two times per year, translating into semi-annual disbursements to bondholders, providing a regular income stream. The credit quality of this issuance is underscored by its robust ratings from leading independent agencies; Standard & Poor's (S&P) has assigned an AA- rating, while Moody's has provided an Aa3 rating. Both classifications place the bond firmly within the high-grade investment category, signifying a very strong capacity for the issuer to meet its financial commitments and indicating a low level of credit risk, which is a testament to Westpac Banking Corporation's financial strength, stable operational performance, and strong market position.