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Prospect News home > News index > List of issuers Tenders > Headlines for 2012 > News item
Published on 4/27/2012 in the Prospect News Liability Management Daily.

Australia and New Zealand Banking to buy back hybrid securities

By Angela McDaniels

Tacoma, Wash., April 27 - Australia and New Zealand Banking Group Ltd. will repurchase and cancel all of its £450 million of hybrid securities on June 15, according to a company news release.

Each hybrid security is made up of a £50,000 perpetual fixed-to-floating subordinated note and a preference share with a liquidation preference of £50,000.

The purchase will be made through ANZ Capital No. 1 Pty. Ltd., which will pay £50,000 per hybrid security.

The purchase received shareholder approval at the annual general meeting in December.

The banking group is based in Melbourne, Australia.


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