Westpac has completed the retail shortfall bookbuild part of the capital raising it launched in August, wrapping up its A$3.5 billion entitlement offer. The bank's common equity tier one capital ratio rose from 8.97 per cent to 9.5 per cent over the year to September. The proceeds of the entitlement offer will increase the bank's CET1 by 100 basis points but this will be offset by the change to mortgage risk weights that takes effect next July, bring CET1 for 2016 back to a pro forma 9.4 per cent. SG Fleet has acquired NLC, the largest privately-owned novated leasing player, for an enterprise value of $154 million, the Australian Financial Review reports. Refunds being paid by Radio Rentals to customers as a result of administrative errors has increased from A$1 million the the company announced previously to $2.8 million, Fairfax Media reports. The company is refunding $1 million to to overpayments from Centrelink's Centrepay system and now it has revealed that it is refunding $1.8 million in "small amounts that had been left in customers' accounts going back 20 years."