Westpac Banking (NZE:WBC, ASX:WBC) issued Thursday $1.5 billion in tier 2 subordinated notes due 2035, according to a same-day filing with the Australian bourse.

The notes bear an interest rate of 5.618%, the filing said.

Proceeds from the issue will be used for general corporate purposes.

The bank's Kiwi shares were up nearly 1% in recent Thursday trade.

Price (AUD): $36.80, Change: $+0.28, Percent Change: +0.77%