Westpac upsizes hybrid deal to minimum volume of A$1 billion [UPDATED]
- Thursday, 16 February 2012
Westpac Banking Corporation (Westpac) (AA-/Aa2/AA) set the margin on its retail-friendly hybrid transaction on February 23, with the 325 basis points over bank bill swap rate (BBSW) pricing level coming at the tighter end of the deal's indicative range. Westpac Convertible Preference Shares (Westpac CPS) launched on February 16 with a marketing range of 320-350 basis points over BBSW.
