Fixed income investors
Westpac Securities NZ Limited
- About WSNZL
- Financial Statements
- Credit ratings for WNZL
- Other Information
- New Zealand economic reports
- Global Funding contacts
Westpac has been operating in New Zealand since 1861. On 1 November 2006, the retail and business banking operations of Westpac became a locally incorporated company called Westpac New Zealand Limited (WNZL).
Westpac Securities NZ Limited (WSNZL) was established as a dedicated entity to provide all offshore wholesale funding for WNZL.
- WSNZL began issuing debt on 1 November 2006
- WSNZL issuance through its London branch, is via USCP, ECP/CD, EMTN and 144A programs
- WSNZL's issuance is guaranteed by its indirect parent, WNZL
- Disclosure for WNZL as guarantor is provided via the New Zealand General Disclosure Statement (GDS) regime as required by the New Zealand Reserve Bank.
(Please also visit us at Bloomberg "WSNZ").
Credit ratings for WNZL
|Short term||Long term||Outlook|
|Moody's Investors Service||P-1||Aa3||Stable|
|Standard & Poor's||A-1+||AA-||Stable|
On 24 February 2012, Fitch announced changes to the credit ratings of Australian major Banks. Westpac along with Westpac New Zealand Limited had its long-term issuer default rating downgraded to AA- from AA with a stable outlook. See the full media release here.
On 1 December 2011, S&P announced the updated ratings for Westpac Banking Corporation (Westpac). As a result of the criteria changes, and the update to Westpac’s issuer credit rating, Westpac New Zealand Limited's and Westpac Securities NZ Limited's long term senior unsecured debt rating was lowered to AA-, down from AA. The short term ratings were affirmed at A-1+. The outlook for the ratings remain stable. See the full media release here.
On 1 November 2011, The Westpac Group announced the completion of the restructure of its New Zealand operating model. See the full media release here.
On 27 May 2011, Moody's announced that the long term, senior unsecured debt rating of WNZL was downgraded to Aa3 from Aa2. See the full WNZL media release here.
New Zealand economic reports
Keep up to date with regular reports and commentary on issues within the New Zealand economy.
Global Funding contacts
For any pricing or other enquiries regarding Westpac Securities NZ Limited, please contact:
Head of Funding
23 Camomile Street
London EC3A 7LL
Phone: +44 20 7621 7637
For any general enquiries, please contact:
Treasurer, Westpac New Zealand Limited
16 Takutai Square
Auckland 1010, New Zealand
Phone: +64 9 367 3539