On 11 November, Westpac Banking Corporation completed the bookbuild for its perpetual non-call March 2027, additional tier-one capital transaction, Westpac Capital Notes 7. Deal volume is around A$1.4 billion (US$1 billion) with the ability to raise more or less, and the margin has been set at 340 basis points over three-month bank bills, the tight end of the indicative range.