Westpac seeks to switch its covered bonds to soft from hard bullet
- Tuesday, 01 March 2016
On March 1, Westpac Banking Corporation (Westpac) announced the launch of a consent solicitation to amend existing hard-bullet covered bonds to soft-bullet format. Westpac is the second Australian issuer to seek to make this type of amendment after the majority of holders of Commonwealth Bank of Australia (CommBank)'s existing hard-bullet covered bonds approved a request to amend its programme in September last year.
