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ANZ launches ANZ Subordinated Notes Offer

ANZ today announced that it intends to issue ANZ Subordinated Notes to raise $500 million with the ability to increase or decrease the size of the offer. 

ANZ Subordinated Notes Key Points


  • Opportunity for retail investors to access a simple investment with regular quarterly interest payments.


  • The maturity date of the ANZ Subordinated Notes is 14 June 2022, but ANZ may redeem the Notes on 14 June 2017.


  • Anticipated Interest Rate for the first quarterly Interest Period to be in excess of 7.00% and calculated as described below.


  • Redemption can only be made by way of cash payment. There is no mechanism or trigger to convert ANZ Subordinated Notes into ANZ ordinary shares.


  • ANZ will apply for ANZ Subordinated Notes to be quoted on the Australian Securities Exchange (ASX). 


ANZ Group Treasurer Rick Moscati said: “ANZ Subordinated Notes provide an opportunity for retail investors to benefit from a simpler, defensive investment opportunity which is usually only available to wholesale investors.


“With the volatility of equity markets since the global financial crisis many investors have been looking to diversify their investment portfolios. 


“Debt securities can be an attractive investment alternative because they provide a regular, quarterly payment, a known time period and a return of capital. ANZ Subordinated Notes are one of the first opportunities retail investors have had in 2012 to access this type of investment.


“While APRA is yet to confirm the capital treatment of these notes ANZ expects that they will form part of our tier-two capital requirements,” Mr Moscati said. 


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