Westpac to Call EUR1 Billion Subordinated Notes Ahead of 2031 Maturity

Westpac Banking ( (AU:WBC) ) just unveiled an announcement.

Westpac Banking Corporation has announced it will exercise its call option to redeem in full its Series 1462-1 EUR1,000,000,000 fixed rate subordinated instruments, originally due May 13, 2031, under its Euro Medium Term Note Programme. The instruments, listed under ASX code WBCHDF, will be redeemed at EUR1,000 per calculation amount on May 13, 2026, with holders receiving 100% of principal plus accrued interest, underscoring active capital management while not signalling any commitment to redeem other regulatory capital instruments.

The bank has formally notified all holders through the clearing systems in line with the instruments’ terms and conditions, confirming the early redemption amount and interest calculation period. Westpac also emphasized that this specific redemption does not indicate future redemption decisions on other outstanding regulatory capital instruments, which would remain subject to approval from the Australian Prudential Regulation Authority, leaving its broader capital structure strategy flexible for regulatory and market considerations.

The most recent analyst rating on (AU:WBC) stock is a Hold with a A$40.00 price target. To see the full list of analyst forecasts on Westpac Banking stock, see the AU:WBC Stock Forecast page.

More about Westpac Banking

Westpac Banking Corporation is one of Australia’s largest banking and financial services providers, offering retail, business, and institutional banking products, as well as wealth management and treasury services across domestic and international markets, including funding via global debt capital markets.

Average Trading Volume: 4,379,173

Technical Sentiment Signal: Buy

Current Market Cap: A$139.2B

Find detailed analytics on WBC stock on TipRanks’ Stock Analysis page.