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Westpac Banking ( (AU:WBC) ) has issued an announcement.
Westpac Banking Corporation has applied to list a new class of wholesale debt securities on the ASX, comprising SGD 500 million in Series 1603 Fixed Rate Reset Callable Subordinated Instruments maturing in May 2038. The issuance, structured as subordinated callable notes with semi-annual fixed interest of 3%, is denominated in Singapore dollars and adds 20,000 securities to Westpac’s quoted capital base.
The instruments are designed as tiered subordinated debt with conversion or potential write-off upon a non-viability trigger event, underscoring their regulatory capital characteristics. By expanding its subordinated funding in foreign currency markets, Westpac further diversifies its capital structure and funding sources, which may strengthen its regulatory capital position and support ongoing balance sheet management for institutional and wholesale investors.
More about Westpac Banking
Westpac Banking Corporation is a major Australian financial services provider listed on the ASX, operating primarily as a diversified banking group. It offers retail and commercial banking, wealth management and institutional financial services, with a significant presence in Australasian and international capital markets.
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