The Westfield Group was formed this summer when US mall owner Westfield America Trust, Australia and New Zealand property owner Westfield Trust and U.K. owner Westfield Holdings combined. The new entity owns 126 shopping centers in the four countries.

"This is a benchmark deal for Westfield which, following the recent success in the US bond market, demonstrates the benefits of the recent merger in enabling increased access to the international debt capital markets," says Peter Allen, Westfield Group's CFO, in a statement. The company's shares closed at A$16.50, up $0.18 on the Australian Stock Exchange yesterday at the end of trading.

Five banks committed the highest single amounts, $225 million each, in the new facility: Australia and New Zealand Banking Group, Barclays Bank PLC, BNP Paribas, Citibank and National Australia Bank. More than two-dozen other lenders also participated. The financing is structured as three and five-year unsecured multicurrency facilities--at 37.5 basis points over Libor and 45 basis points over Libor, respectively--with availability in the US and Australia.