Westpac NZ's jumbo domestic return supports funding flexibility [UPDATED]
- Monday, 12 March 2012
Westpac New Zealand (Westpac NZ)'s NZ$750 million (US$607.2 million) return to domestic issuance assists the bank's strategy of retaining significant wholesale funding flexibility, the issuer says. According to KangaNews data the three-year fixed- and floating-rate issue was the largest ever one-time, single-maturity senior domestic issue by a New Zealand bank.
