Westpac to raise $50m in five year bond issue

Westpac has relaunched a five year bond issue aimed at retail investors to raise over NZ$50 million.

The bond is set to have an interest rate of 142 basis points above the mid-swap rate, Kanganews reported.

This includes a retail brokerage fee of 50 basis points, which has become a common feature in retail bond issues by banks in recent months.

The issue is set to be priced on November 20.

- INTEREST.CO.NZ