Funds Focus

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

The Notes will pay a semi annual coupon of 3.2%-3.4% (rate determined by the bookbuild) over the 90 day bank bill swap rate (BBSW), which was 2.99% as of 1st February, with an initial indicative rate of 6.19%-6.39%pa. (The first pricing is due to be set on date of issue) The Notes are expected to

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

This last week has seen the launch of four new income offers: ANZ Subordinated Notes, Colonial Group Subordinated Notes, Tabcorp Subordinated Notes and Westpac Convertible Preference Shares (CPS). We have produced this overview in an attempt to provide some clarity for investors in making a comparison of the offers available.

 The current focus on income
The recent flood of fixed income issues is a result of the ongoing market volatility and the increased cost of overseas funding. Falling