Opinion
Last week, Westpac announced its latest hybrid offering
Company factsheets
Westpac is one of the four major banks in Australia and the second largest banking group in New Zealand. The company has roots dating back to 1817 and is one of the top five companies by market capitalisation on the Australian Stock Exchange
Opinion
The four major banks — ANZ, CBA, NAB and Westpac — must juggle the demands of many interested parties, a balancing act that sometimes requires them to issue capital, as shown by Westpac’s $3.5 billion share rights issue this week, offered to retail investors at a 13 per cent discount
Company updates
On 17 February, Genworth released an ASX announcement that Westpac had cancelled its contract for lenders mortgage insurance (LMI)
Opinion
This article compares the hybrid terms and conditions with the Bendigo and Adelaide subordinated bond issued earlier this year.