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Westpac raises A$1.42B in note issue

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Westpac raises A$1.42B in note issue

Westpac Banking Corp. raised about A$1.42 billion through an issuance of perpetual floating-rate notes.

The securities, dubbed capital notes 6, are expected to start trading on the ASX on Dec. 24 on a normal settlement basis. The margin was previously set at 3.70% per annum.

The bank previously said it would use proceeds from the issuance for general business purposes.