Cash storage problem solved

02 June 2016

 

Hot on the heels of Westpac’s $175 million issue of new Tier 2 notes, the bank has announced an issue of Tier 2 June 2026 bonds. Denominated in yen, they have the increasingly common non-viability clauses, which if triggered would allow the write-off of these notes or the conversion in to ordinary Westpac shares. Nothing is especially unusual about this issue of notes, except for one thing; they are bearer...

read full story