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.