Westpac upsizes hybrid deal to minimum volume of A$1 billion [UPDATED]
Westpac Banking Corporation (Westpac) (AA-/Aa2/AA) set the margin on its retail-friendly hybrid transaction on February 23, with the 325 basis points over bank bill swap rate (BBSW) pricing level coming at the tighter end of the deal’s indicative range. Westpac Convertible Preference Shares (Westpac CPS) launched on February 16 with a marketing range of 320-350 basis points over BBSW.
Latest Issue 2013 May
Asset allocation innovations. Corporates in focus: offshore funding and equity credit hybrids. RBNZ on the pourpose of OBR. Plus news, commentary, market analysis and deal data.
