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Westpac Banking Corp (WBCPB.AX)

WBCPB.AX on Australia Stock Exchange

100.82AUD
17 Sep 2014
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Latest Key Developments (Source: Significant Developments)

Westpac launches subordinated notes offer
Monday, 25 Jul 2016 05:18pm EDT 

Westpac Banking Corp : Westpac launches nzd subordinated notes offer . Announced that it is making an offer of up to NZ$250 million of unsecured, subordinated, fixed rate notes . Says offer will open on 5 August 2016 and is expected to close on 26 August 2016 . Notes have a term of 10 years and are scheduled to be repaid on 1 September 2026 . Says offer is only open to investors resident in New Zealand . Says the indicative margin range for the notes is 2.60% to 2.80% per annum . Notes will qualify as tier 2 capital for Westpac under apra's Basel III capital adequacy framework . Says notes are expected to be quoted on the nzx debt market .  Full Article

Westpac Banking Corp considers NZD subordinated notes offer
Wednesday, 20 Jul 2016 10:10pm EDT 

Westpac Banking Corp : Westpac considers NZD subordinated notes offer . Notes are expected to have a term of 10 years but may be repaid earlier in certain circumstances . Offer is expected to open in August 2016 . Notes are expected to be treated as tier 2 capital for Westpac and are expected to be quoted on the NZX debt market .  Full Article

IVE Group Limited signed LOI with Westpac Banking Corporation
Thursday, 21 Jan 2016 12:21am EST 

IVE Group Limited and Westpac Banking Corporation:Says jointly undertake transition and implementation planning for an expected full service rollout within the first half of 2016.Signed letter of intent with Westpac to provide graphic design and print management services following a competitive tender process.Says it is intended that binding agreement will be executed by 31 March 2016 and will be for five year term.  Full Article

Westpac Banking says $3.5 billion share entitlement offer and preliminary FY 2015 result
Tuesday, 13 Oct 2015 04:49pm EDT 

Westpac Banking:Says it was undertaking a fully underwritten, pro rata accelerated renounceable entitlement offer to raise approximately $3.5 billion of ordinary equity.Also expects to determine a 2015 final, fully franked dividend of 94 cents per share, up 2 cents on the 2014 Final Dividend.  Full Article

Westpac completes sale of its operations in three Pacific Island nations
Monday, 13 Jul 2015 08:13pm EDT 

Westpac Banking Corp:Says completion of the sale of its banking operations in the Cook Islands, Samoa and Tonga to the Bank of South Pacific Limited (BSP) for A$91 mln.Says transaction was previously announced to the market on Jan. 29 and will not have a material impact on Westpac Group's financial position.Westpac will continue to support Vanuatu through its recovery process, and it will be business as usual for our customers and employees.  Full Article

Westpac Group opens retail offer for BT Investment Management shares
Sunday, 21 Jun 2015 08:26pm EDT 

Westpac:Says commencement of BTIM retail offer as part of partial sell down of its shareholding in BT Investment Management (BTIM).Says retail offer involves offering eligible shareholders opportunity to apply for either 600 Shares (equal to $4,920 at offer price) or 1,200 Shares (equal to $9,840 at offer price) which may be purchased without incurring brokerage and transaction costs.Says Westpac is offering 27 million Shares or about 9 pct. of BTIM is issued capital under retail offer.Says retail offer involves offering eligible shareholders opportunity to apply for either 600 shares (equal to $4,920 at offer price) or 1,200 shares (equal to $9,840 at offer price) which may be purchased without incurring brokerage and transaction costs.Following completion of offer, Westpac currently intends to retain a shareholding of about 31 pct. in BTIM.  Full Article

Westpac announces new operating model
Tuesday, 9 Jun 2015 07:42pm EDT 

Westpac Banking Corp:Announced new, simplified organisational structure for its Australian retail and business banking operations designed to accelerate the company's customer focused strategy.Under new structure, two new divisions are being created.Consumer Bank – responsible for all consumer banking products and services under the Westpac, St.George, BankSA, Bank of Melbourne and RAMS brands.Commercial and Business Bank - responsible for serving small and medium enterprises, commercial and agri-business customers, as well as asset and equipment finance. Specialist business bankers will continue to operate under their respective brands.  Full Article

Westpac Banking Corp announces interim ordinary dividend
Sunday, 10 May 2015 07:24pm EDT 

Westpac Banking Corp:Says that board has determined interim ordinary dividend of 93 cents per share, fully franked, up 1 cent or 1 pct. on 2014 final ordinary dividend.Says interim ordinary dividend will be paid on July 2, with record date May 15.  Full Article

Westpac Banking Corporation announces termination of Westpac agreement
Tuesday, 17 Feb 2015 12:41am EST 

Westpac Banking Corporation:Says it has provided 90 days written notice that they are terminating the agreement for the provision of lenders mortgage insurance with Genworth Financial Mortgage Insurance Pty Ltd, a subsidiary of Genworth Mortgage Insurance Australia Limited.  Full Article

Westpac Banking Corporation to sell its operations in five Pacific Island Nations
Wednesday, 28 Jan 2015 07:00pm EST 

Westpac Banking Corporation:Announced that it had entered into an agreement to sell its banking operations in Samoa, Cook Islands, Solomon Islands, Vanuatu and Tonga to the Bank of South Pacific Limited for A$125 million.Westpac will retain its operations in its largest Pacific markets of Fiji and Papua New Guinea (PNG) as both the longest serving bank in Fiji for 113 years and the first bank in PN.Completion of the sale is expected to occur in mid-2015.  Full Article

Australia's Westpac shrinks Asian footprint

SYDNEY, Nov 15 Australia's Westpac Banking Corp on Tuesday said it would reduce its Asian lending footprint as a result of challenging market conditions and slowing corporate activity that have placed downward pressure on returns.