Nicholas Forsyth

On the last day of May we saw NAB announce a new Hybrid Security in an effort to raise around $750m of tier 1 capital. This comes on the back of two successful deals from Westpac about a week ago, and Commonwealth Bank in early April. However, not all Hybrids... Show More

Christopher Joye

In The AFR my main column argues that---shock, horror---the new Westpac hybrid, called Westpac Capital Notes 4 (ASX: WBCPG), is actually a good deal. That's a first for me. I explain that while CBA's Perls 8 has performed very well in the secondary market it has been the dud I... Show More