Westpac Banking ( (AU:WBC) ) has issued an announcement.
Westpac Banking Corporation announced the issuance of A$400 million Fixed Rate to Floating Rate Callable Subordinated Notes and A$850 million Floating Rate Callable Subordinated Notes, both due in February 2035. These financial instruments are expected to be classified as Tier 2 regulatory capital under the Basel III framework, indicating their significance in strengthening Westpac’s capital base. The terms allow for conversion into ordinary shares or a write-off if the bank is deemed non-viable by regulatory authorities, highlighting risk management strategies to protect stakeholders and maintain stability.
More about Westpac Banking
Westpac Banking Corporation is a major Australian financial institution, operating in the banking industry. It provides a wide range of financial services including retail, business, and institutional banking, as well as wealth management services. Its market focus is primarily on Australia and New Zealand.
YTD Price Performance: 7.56%
Average Trading Volume: 2,919
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $73.16B
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