0001104659-21-151355.txt : 20211220 0001104659-21-151355.hdr.sgml : 20211220 20211220060458 ACCESSION NUMBER: 0001104659-21-151355 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20211220 FILED AS OF DATE: 20211220 DATE AS OF CHANGE: 20211220 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WESTPAC BANKING CORP CENTRAL INDEX KEY: 0000719245 STANDARD INDUSTRIAL CLASSIFICATION: COMMERCIAL BANKS, NEC [6029] IRS NUMBER: 986008211 STATE OF INCORPORATION: C3 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10167 FILM NUMBER: 211503577 BUSINESS ADDRESS: STREET 1: LEVEL 18, 275 KENT STREET CITY: SYDNEY STATE: C3 ZIP: 2000 BUSINESS PHONE: 0011-61466382161 MAIL ADDRESS: STREET 1: LEVEL 18, 275 KENT STREET CITY: SYDNEY STATE: C3 ZIP: 2000 6-K 1 tm2135507d2_6k.htm FORM 6-K

  

 

  

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

December 20, 2021

 

Commission File Number 1-10167

 

WESTPAC BANKING CORPORATION

(Translation of registrant’s name into English)

 

275 KENT STREET, SYDNEY, NEW SOUTH WALES 2000, AUSTRALIA

(Address of principal executive office)

  

Indicate by check mark whether the registrant files or will file annual reports

under cover of Form 20-F or Form 40-F.

 

Form 20-F x                       Form 40-F ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

 

 

  

 

 

  

Index to Exhibits

 

Exhibit
No.		   Description
     
1   ASX Release – Westpac completes sale of wholesale auto loan book    

 

 

 

  

SIGNATURES

  

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

  

  WESTPAC BANKING CORPORATION
                     (Registrant)

  

Date: December 20, 2021 By: /s/ Yvette Adiguzel
      Yvette Adiguzel
      Tier One Attorney

  

 

 EX-1 2 tm2135507d2_ex1.htm EXHIBIT 1

 

Exhibit 1 

 

 

 

 

ASX

 Level 18, 275 Kent Street
Sydney, NSW, 2000

Release

  

 

20 December 2021

 

WESTPAC COMPLETES SALE OF WHOLESALE AUTO LOAN BOOK

 

Following the 28 June 2021 announcement of Westpac’s intention to sell its vehicle dealer finance and novated leasing businesses to Angle Auto Finance1, Westpac has today confirmed that it has completed the sale of its wholesale dealer loan book of approximately $1 billion in receivables.

 

This is the key milestone in the transaction. The transition of Westpac’s retail, wholesale dealer and introducer networks to Angle Auto Finance is under way and is expected to complete by the end of March 2022.

 

The transaction is expected to add 6 basis points to Westpac’s Common Equity Tier 1 capital ratio2 and generate an accounting gain on sale3.

 

Westpac Group Chief Executive, Specialist Businesses, Jason Yetton said the sale continued to simplify the Group’s operations while supporting the Auto Finance industry.

 

“Westpac is confident that Angle will provide a high level of support for dealers and customers and is committed to investing and growing the business to help more Australians get behind the wheel,” Mr Yetton said.

 

 

For further information:

 

Lisa Parrett Neil Wesley
Media Relations Investor Relations
M. 0432 933 796 M. 0481 461 498

 

This document has been authorised for release by Tim Hartin, General Manager & Company Secretary.

 

 

 

1 Angle Auto Finance is a portfolio company of Cerberus Capital Management.

2 On a pro forma 30 September 2021 basis.

3 Around one third of the gain on sale (and the majority of the increase in capital) will be booked with the sale of the loans, while the residual gain on sale will accompany the transition of the distribution business to Angle Auto Finance.

 

 

 

 

 

 

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