Slaughter and May advised Westpac on the issue and listing on the Hong Kong Stock Exchange of AUD 2,760 million Class A Notes due 2050

Slaughter and May, Hong Kong, advised Westpac Banking Corporation on the issue of AUD 2,760 million Class A Notes due August 2050 (the “Notes”). The Notes are mortgage backed floating rate notes and are issued by BNY Trust Company of Australia Limited in its capacity as the trustee of the Series 2019-1 WST Trust under the Westpac Securitisation Trust Programme.  Westpac Securitisation Management Pty Limited acts as the Trust Manager.

The Notes are listed on the Hong Kong Stock Exchange and are offered to professional investors only. The proceeds of the issue of the Notes were used to acquire a pool of residential housing loans originated by Westpac Banking Corporation.

The Notes have been assigned a rating of AAA (sf) by Standard and Poor’s (Australia) Pty Limited and AAAsf by Fitch Australia Pty Limited.

Westpac Banking Corporation acted as the arranger and lead manager in respect of the offering.