ANZ Banking Group (ANZ) (AA-/Aa2/AA-) increased the size of its new subordinated transaction on February 20, allocating A$1.5 billion (US$1.6 billion) to the bookbuild or A$1 billion more than the initial minimum target volume. The issuer also set the transaction margin at 275 basis points over bank bill swap rate (BBSW), the tightest end of its 25 basis point indicative range.
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