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Westpac to issue A$1B of callable subordinated notes

Westpac Banking Corp. will issue A$1 billion floating-rate subordinated notes.

The notes are due Aug. 27, 2029, and callable in the fifth year from issuance, according to an Aug. 23 disclosure. The notes will be issued Aug. 27.

The net proceeds of the issue will be used for the bank's general corporate purposes.