The ANZ Bank has allocated $1.7 billion of ANZ Capital Notes 9, where it had been seeking around $1 billion originally under its offer. The Bank has issued a replacement prospectus today.
It also announced that it had set the margin at 2.90% per annum. This is at the lower end of its previous guidance of 290-310bp above the 3-month BBSW.
The hybrid deal has been increased on the back of ANZ successfully overturning the competition regulator’s opposition to its $4.9 billion deal for Suncorp’s bank business this week.
The offer includes a redemption offer for holders of ANZ Capital Notes 4.
Also read: ANZ Launches ANZ Capital Notes 9 Offer
The lead managers are: ANZ, Bell Potter, Commonwealth Bank of Australia, E&P Corporate Advisory, Morgan Stanley, Morgans Financial, National Australia Bank, Ord Minnett, Shaw and Partners, UBS, and Westpac Institutional Bank. LGT Crestone Wealth Management is co-manager.
