Westpac launches AT1 capital notes transaction

Westpac Banking Corporation (Westpac) launched an additional tier-one (AT1) capital notes transaction, with indicative volume of A$750 million (US$593.3 million), on 5 February. Price guidance is 320-340 basis points over three-month bank bills, while the offer expected to open on 13 February and close on 6 March.