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ANZ launches A$750 million ANZ Capital Notes Offer

Open to Australian investors; Expected margin of between 3.4% and 3.6% p.a. above bank bill swap rate

ANZ today announced that it intends to issue ANZ Capital Notes to raise A$750 million with the ability to increase or decrease the size of the offer.


The offer is expected to open on 10 July 2013 and forms part of ANZ’s ongoing capital management strategy. ANZ will use the proceeds of the offer for general corporate purposes.


ANZ Capital Notes will constitute Basel III-compliant Additional Tier 1 Capital under the Australian Prudential Regulation Authority’s (APRA) current capital adequacy standards.


ANZ Securities, Citigroup, Commonwealth Bank of Australia, J.P. Morgan, National Australia Bank and RBS Morgans have been appointed as Joint Lead Managers and Bell Potter, Morgan Stanley Wealth Management and Ord Minnett have been appointed as CoManagers on the transaction.


See the following table for the key features of ANZ Capital Notes


The Offer comprises:


  • an ANZ Securityholder Offer, open to Australian resident holders of:
    • ANZ Ordinary Shares;
    • convertible preference shares issued by ANZ in September 2008 (CPS1), December 2009 (CPS2) and September 2011 (CPS3); or
    • ANZ Subordinated Notes issued in March 2012, who are on the Register for those securities at 7.00pm (Melbourne time) on 26 June 2013;


  • a General Offer, open to Australian residents who are not ANZ Securityholder Applicants, Broker Firm Applicants or Institutional Investors;


  • a Broker Firm Offer, open to clients of Syndicate Brokers invited to participate through the Broker Firm Offer; and


  • an Institutional Offer, open to investors that have been invited by ANZ Securities to bid for ANZ Capital Notes through the Institutional Offer.


The closing date for the ANZ Securityholder Offer and General Offer is scheduled to be at 5:00pm (Melbourne time) on Wednesday 31 July 2013. The Broker Firm Offer is scheduled to close at 10:00am (Melbourne time) on Tuesday 6 August 2013.


Shareholder approval is not required for the issue of ANZ Capital Notes. 


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