Funds Focus

Westpac Bank has just announced the launch of a new income offer: Westpac Subordinated Notes II.The first round of access is through a broker firm allocation, prior to shareholder offer and listing in August.

The Notes will pay a quarterly coupon of 2.30%-2.45% (rate determined by the bookbuild) over the 90 day bank bill swap rate (BBSW), which was 2.76% as of 12th July, with an initial indicative rate of 5.06%-5.21%pa. (The first pricing is due to be set on date of issue) The Notes are

Westpac Bank has announced the launch of a new income offer: Westpac Subordinated Notes (WBCHA).The first round of access is through a broker firm allocation, prior to shareholder and general offer and listing in August.

The Notes will pay a half yearly coupon of 2.75% over the 90 day bank bill swap rate (BBSW), 3.48%  as of 23rd July, with an initial indicative rate of 6.23%pa. (The first quarterly price to be set on date of issue) and are expected to redeem 23rd August 2017. The Notes will