Westpac reopens dollar covered bonds

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Westpac reopens dollar covered bonds

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Macro shot of US One hundred dollar bill. | Bart Sadowski/bartsadowski - stock.adobe.com

Westpac has issued the first dollar covered bond of the year, and its first in that currency in more than two years. The borrower took advantage of a quiet market to issue a sizeable $2bn five year deal that provided a considerable cost saving to senior unsecured — sending a strong signal to other issuers.

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