Westpac Issues A$1.5 Billion Subordinated Notes

Westpac Banking (AU:WBC) has released an update.

Westpac Banking Corporation has announced the issuance of A$1.5 billion in Tier 2 Subordinated Notes, with maturity due in July 2034. These financial instruments aim to enhance the bank’s regulatory capital under the Basel III framework and come with conditions that include potential conversion into ordinary shares or write-off upon APRA’s determination of non-viability. The offering, which comprises both fixed to floating and floating rate notes, is detailed in an Information Memorandum and Pricing Supplements available on the ASX website.

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