From Banking Day comes the news that on Friday:
…Westpac priced the Series 2013-1 WST Trust. The A$1.9 billion class A tranche, with a weighted average life of three years, was priced at 85 basis pointed over the one-month bank bill swap rate.
Pricing on the $71 million class B tranche and the $97 class C tranche was not disclosed.
Westpac launched the deal earlier in the week seeking $750 million, but it ended up issuing $2.1 billion.
These are pre-European crisis rates, though still well above pre-GFC rates. Checking in on the CDS market, which is an excellent proxy for long-term wholesale yields, on Friday prices hit their lowest levels since late 2010 and look likely to finally breach the European crisis floor of 100bps: