Westpac step-ups to be redeemed

17 May 2016

 

When CBA announced the redemption of its PERLS III (ASX code PCAPA) step-ups in late March, speculation arose as to Westpac’s intentions with regards to Trust Preferred Securities (TPS) step-up units. This was all but confirmed in early May when Westpac released its half year results and said its policy was to replaces non-Basel III compliant securities. Westpac has now confirmed it will be redeeming its non-Basel III compliant TPS...

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