ANZ NZ sets distribution rate for AT1 perpetual preference share offer

Thursday, 07 July 2022

Disclosure type: deal update
Issuer name: ANZ Bank New Zealand
Issuer rating: AA-/A1/A+
Expected issue rating: BBB (S&P)
Announcement date: 7 July
Expected pricing date: ND
Lead managers: ANZ, Craigs Investment Partners, Forsyth Barr, Hobson Wealth Partners, Jarden Securities

Transaction type: additional tier-one capital, perpetual preference shares
Indicative volume: NZ$550 million (US$339.2 million)
Tenor: perpetual non-call six-year
Coupon type: fixed
Coupon rate: 6.95% per annum
Price guidance: 325bp/mid-swap