Westpac Financial Performance Update
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WNZL Covered Bond Programme - Overview
Issuer
Group Guarantor
Group Guarantor Rating
Format
Covered Bond Rating
Programme Size
Maturity Options
Covered Bond Guarantor
Covered Bond Guarantee
LVR Cap in Asset Coverage Test
Asset Percentage
Collateral
Programme Listing
Covered Bond Guarantor Governing Law
Westpac Securities NZ Limited, London Branch
Westpac New Zealand Limited
AA-/Aa3/AA- by S&P / Moody's / Fitch
Legislative Covered Bond
Aaa/AAA by Moody's / Fitch
€5 billion
Soft and Hard Bullet
Westpac NZ Covered Bond Limited, a special purpose vehicle (SPV)
Covered Bond Guarantor has guaranteed payments of interest and principal under
the Covered Bonds secured over the Mortgage Loans and its other assets (Limited in
recourse to its assets)
75%
Subject to rating agency requirements, Programme maximum 90%
New Zealand prime, first ranking residential mortgages
London Stock Exchange
New Zealand
PRIVATE & CONFIDENTIALView entire presentation