ANZ prices A$620m Fixed and Floating Bonds

Australia and New Zealand Banking Group (ANZ) has today priced a A$620 million tap of its fixed and floating rate Transferable Deposits issue due September 2012. ANZ acted as lead manager on the deal. The issue was priced at a spread of 94 basis points over swap/BBSW. The maturity date is 18 September 2012 with settlement on 10 June 2008. 

Details of the transaction are as follows.

TRANCHE A – A$430 million floating rate Transferable Deposits

Original Amount Outstanding – A$205 million

Tap Amount – A$430 million

Total Amount Outstanding – A$635 million

Coupon – 42 basis points over three month BBSW

Yield – 94 basis points over three month BBSW

Margin – 94 basis points over three month BBSW

Issue Price – 98.165

TRANCHE B – A$190 million fixed rate Transferable Deposits

Original Amount Outstanding – A$150 million

Tap Amount – A$190 million

Total Amount Outstanding – A$340 million

Coupon – 7.250 per cent Yield – 8.760 per cent

Margin – 94 basis points over A$ mid swaps

Issue Price – 94.695

ANZ is rated AA by Standard & Poor’s and Aa1 by Moody’s Investor Services.

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