Westpac to raise $750m in notes on offer

Lender says notes will qualify as Tier 1 capital under APRA's framework.

Westpac Banking Corporation (WBC) is aiming to raise approximately $750 million in a capital notes offer, saying the notes will qualify as additional Tier 1 capital under the Australian Prudential Regulation Authority's Basel III capital adequacy framework.

The lender expects the margin to be in the range of 3.05% to 3.2% per annum, determined under the bookbuild.

The notes will have an issue price of $100 each, with distributions paid quarterly in arrear. 


SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

Related Articles