(Reuters) - Australia's Westpac Banking Corp <WBC.AX> intends raising about A$750 million ($593.33 million) through an offering of capital notes, it said on Monday.
Each note will have an issue price of A$100, and the distribution margin on the notes is expected to be between 3.20 percent and 3.40 percent per annum, the bank said in a statement.
The bank also said that the notes will be quoted on the Australian stock exchange, and they will qualify as Additional Tier 1 Capital under the Australian Prudential Regulation Authority’s capital adequacy framework
(Reporting by Ambar Warrick in Bengaluru; Editing by Susan Thomas)
