November 11, 2018 / 9:46 PM / a month ago

Australia's Westpac launches notes issuance to raise $541.13 million

Nov 12 (Reuters) - Westpac Banking Corp said on Monday it intends to raise about A$750 million ($540 million) through an offering of capital notes.

Each note will have an issue price of A$100, and the distribution margin on the notes is expected to be between 3.70 percent and 3.90 percent per annum, the bank said in a statement.

The move comes days after the Australian Prudential Regulation Authority (APRA) flagged higher capital requirements for the country’s four biggest lenders.

$1 = 1.3860 Australian dollars Reporting by Chandini Monnappa in Bengaluru; editing by David Stamp

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