WESTPAC has just announced the launch of a new income offer: Westpac Capital Notes. The first round of access is through a broker firm allocation, prior to shareholder and general offer and listing in July.
The Notes will pay a quarterly coupon of 4.9%-5.2% (margin determined by the book build) over the 90 day bank bill swap rate (BBSW), which was 1.99% as of 17th May. The initial indicative rate will be 6.89%-7.19%pa with the rate to be set on the date of issue. The Notes are expected to