ANZ Allocates $1.7 billion & Sets Margin for ANZ Capital Notes 9

ANZ Allocates $1.7 billion & Sets Margin for ANZ Capital Notes 9

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.

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Brenton Gibbs
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Brenton is the editorial and social media director of Fixed Income News Australia and responsible for the editorial content development and social media presence of the site. He has written widely across a number of industry platforms including property, tourism, business and education. He is a director and co-founder of communications, content and creative agency RGC Media & Mktng and editorial contributor to MBA News Australia.