HSF advises Joint Lead Managers on Westpac s A$1 5 billion offer of Westpac Capital Notes 9 and Westpac Capital Notes 2 reinvestment miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.
Westpac Banking Corporation has hired syndicate brokers to raise $750 million via hybrid, with pricing expected to land between 3.4 per cent and 3.6 per cent above the three-month bank bill swap rate.
The bank plans to raise $750 million in additional tier 1 capital through the offer. On Tuesday, Westpac announced the offer of a new additional tier 1 capital security to raise approximately $750 m
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HSF Advises Joint Lead Managers on ANZ’s A$1.5 billion Capital Notes 6 Offer
Herbert Smith Freehills has advised the Joint Lead Managers of Australia and New Zealand Banking Group Limited’s (ANZ) offer of ANZ Capital Notes 6 (Notes). The offer also involved a reinvestment offer under which holders of ANZ Capital Notes 1 were able to apply to sell some or all of their ANZ Capital Notes 1 and reinvest the proceeds in the Notes or receive cash.
The Notes are fully paid, convertible, perpetual, unsecured, subordinated notes issued by ANZ. The Notes will constitute Additional Tier 1 Capital under APRA standards. The proceeds from the issue will be used to refinance the ANZ Capital Notes 1 and for general corporate purposes.