ASX:WBCBanks
Is Westpac (ASX:WBC) Using Covered Bonds To Quietly Reshape Its Funding And Profitability Profile?
Westpac Banking Corporation recently completed several euro-denominated fixed-income offerings, including a €1.00 billion 3.119% covered bond due January 2, 2031, and two €50.00 million secured issues maturing in 2045 and 2047, alongside resetting the 4.0441% coupon on its GBP 500.00 million floating-rate notes due April 2026.
These transactions expand Westpac’s secured wholesale funding base and extend its debt maturity profile, which can influence its capital flexibility and interest...