Westpac Banking Corporation (Westpac) revealed on August 4 that after completing the bookbuild, it has set the offer size and margin on its offer of subordinated tier-two notes in the New Zealand market. According to Australian Securities Exchange and NZX announcements, the margin on Westpac's NZ$400 million offer has been set at the tight end of the 260-280 basis points over swap indicative range.