Latest Westpac hybrid margin set at 4.90%

Westpac’s latest hybrid security offering has had its margin set after the completion of a book-build process. The margin on Westpac Capital Notes 4 will be 4.90% and, when added to the current 90 day bank bill swap rate (BBSW) of 2.00%, investors will receive 6.90% annually, inclusive of franking credits. The distribution rate is set on the first business day of each payment period and therefore the total rate...

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