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Westpac Banking Corp (ASX:WBC) has launched a $750 million debt issue.
The bank has priced the tier 2 capital securities at $100 apiece.
The offer includes a buyback option for holders of Westpac stapled preferred securities, who will be given priority to use the proceeds to buy debt under the raising.
Westpac’s acting chief financial officer Peter King says the notes issue will strengthen the bank’s total regulatory capital position and diversify the group’s funding profile.
The notes will be priced at the sum of the 90 day Bank Bill Rate and a margin per annum expected to be between 2.3 and 2.45 per cent.
The offer is open to institutional and retail investors and opens on 18 July.
Westpac Bank generated a net profit of $3.3 billion in the first half of fiscal 2013.
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Last
$38.48 |
Change
0.530(1.40%) |
Mkt cap ! $131.6B | |||
| Open | High | Low | Value | Volume |
| $38.20 | $38.56 | $38.10 | $289.9M | 7.544M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 837 | $38.47 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $38.49 | 750 | 1 |
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| Last trade - 16.18pm 12/09/2025 (20 minute delay) ? |
| WBC (ASX) Chart |