Slaughter and May advised Westpac Securities NZ Limited on its first green bond issue under its US$10 billion Programme for the Issuance of Debt Instruments

Slaughter and May advised Westpac Securities NZ Limited (the “Issuer”) on the issuance of EUR500 million Fixed Rate Instruments due 25 June 2024 under the Issuer’s US$10 billion Programme for the Issuance of Debt Instruments (the “Programme”). The instruments are listed on the London Stock Exchange, and are issued as Green Bonds.

The proceeds of issuance will be on-lent by the Issuer to Westpac New Zealand Limited, to be used to finance or re-finance certain eligible assets under the WNZL Green Bond Framework.

Slaughter and May previously advised the Issuer on its annual update of the Programme in December 2018, and a subsequent supplementing of the Programme to allow for Green Bond issuances.