On November 15, Westpac Banking Corporation (Westpac) (AA-/Aa2/AA-) priced a new 10-year fixed-rate Australian dollar (AUD) covered bond. The issuer is the second domestic bank to price an AUD covered bond in 2013 following ANZ Banking Group's deal in August, which had with pricing of 100 basis points over swap also for a 10-year duration.
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