Login or request a free trial

Brief: Westpac raises tier two capital

Westpac sold A$525 million of Basel 3 compliant tier two capital yesterday, two days after beginning to sound out investors. The bond is a ten-year non-call five-year transaction of a type formerly referred to as subordinated debt. Westpac priced the bond at 310 basis points over the three-month swap rate.

I'm a returning subscriber

Password reset
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day