Saughter and May advised Westpac Banking Corporation on its dual-tranche issuance under its global covered bond programme

Saughter and May advised Westpac Banking Corporation (the “Issuer”) on its dual-tranche issuance of EUR-denominated covered bonds and their admission to trading on the Main Market of the London Stock Exchange under the Issuer’s U.S.$40bn Global Covered Bond Programme. 

The issuance comprised two series of Regulation S fixed rate covered bonds:

• Series 2026-C8 — €1,250,000,000 3.038% Fixed Rate Regulation S Covered Bonds due 1 March 2030 (ISIN: XS3413338065).
• Series 2026-C9 — €600,000,000 3.447% Fixed Rate Regulation S Covered Bonds due 23 June 2036 (ISIN: XS3413338149).