Lonsec have initiated coverage and assigned ratings to Westpac Capital Notes 7 – WBCPJ
Westpac Capital Notes 7 (WBCPJ) is structured as a Basel III compliant Additional Tier 1 (AT1) security with terms comparable to earlier issued Capital Notes. The Notes are expected to pay quarterly, fully franked distributions based on an issue margin of 3.40%-3.60% over the 90-day BBSW.
Lonsec’s Viewpoint Report covering the key elements of the security, and the various risks involved in now available in the Members Research Portal.
Members can view this report by clicking on the Hybrids sub-menu, type WBCPJ in the search box, and click the report icon in the table.