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Westpac Banking Corporation (ASX:WBC) has announced a $500 million subordinated notes offering.
The bank’s Treasurer says it provides an opportunity for investors to diversify their investment portfolio with regular quarterly interest payments.
Westpac is offering a floating rate margin in the range of 2.75 -2.95 per cent over a 90 day bank bill rate.
The news comes after it cautioned earlier this month, that the financial services sector will continue to have subdued growth over the medium-term due to a broader structural change in the banking landscape amid softening mortgage lending rates.
In the first half of the 2012 financial year Westpac reported a net profit of $3 billion.
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Last
$38.73 |
Change
0.250(0.65%) |
Mkt cap ! $132.4B | |||
| Open | High | Low | Value | Volume |
| $38.40 | $38.82 | $38.27 | $112.4M | 2.907M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 629 | $38.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $38.75 | 10000 | 1 |
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| Last trade - 16.11pm 15/09/2025 (20 minute delay) ? |
| WBC (ASX) Chart |