Westpac prices first big-four bank wholesale tier-two issue under Basel III rules [UPDATED]
- Friday, 07 March 2014
On March 7, Westpac Banking Corporation (Westpac) (AA-/Aa2) priced its Australian dollar benchmark tier-two floating rate note (FRN) transaction. The deal is a Basel III compliant tier-two institutionally targeted transaction with a five-year non-call period.
