Company: WEBNF
Filing Date: 2025-11-04
Form Type: 20-F
Source: 0001104659-25-105894
Chunk: 65

Company: WESTPAC BANKING CORP
Filing Date: 2025-11-04
Form: 20-F
Item: Item 14
Chunk 65
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 its subsidiary entities that have been approved by APRA as being part of an ‘Extended Licensed Entity’ for the purpose of measuring capital adequacy. Level 2 is the consolidation of Westpac Banking Corporation and all its subsidiary entities except those entities specifically excluded by APRA regulations. The head of the Level 2 group is Westpac Banking Corporation.
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58 WESTPAC GROUP 2025 ANNUAL REPORT
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NOTES TO THE FINANCIAL STATEMENTS

Note 14.Loan capital (Continued)
Tier 2 loan capital
A summary of the key terms and common features of Westpac’s Tier 2 instruments (subordinated notes) is provided below:

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​                      ​                      ​                      ​                   ​   ​            Optional   ​         ​   ​         ​
$m                                            Interest ratea                 Maturity date        redemption dateb   2025          2024       
Subordinated notes issued by Westpac Banking Corporation                                                                                      
USD 100 million                               Fixed                       23 February 2046                     n/a   107           110        
JPY 20,000 million                            Fixed                            19 May 2026                     n/a   204           202        
JPY 10,200 million                            Fixed                            2 June 2026                     n/a   104           103        
JPY 10,000 million                            Fixed                            9 June 2026                     n/a   102           101        
USD 1,500 million                             Fixed                       23 November 2031        23 November 2026         2,227         2,095
AUD 185 million        ​                      Fixed                  ​     24 January 2048   ​                 n/a   ​       184   ​       184
AUD 130 million        ​                      Fixed                  ​        2 March 2048   ​                 n/a   ​       130   ​       130
USD 1,000 million      ​                      Fixed                  ​        24 July 2039   ​                 n/a   ​     1,205   ​     1,196
USD 1,250 million      ​                      Fixed                  ​        24 July 2034   ​        24 July 2029   ​     1,782   ​     1,