By Cristal Cody
Chicago, March 12 – Australia and New Zealand Banking Group Ltd. priced $1 billion of 5.731% subordinated tier 2 notes due September 2034 (A3/A-), according to a market source.
The notes priced at Treasuries plus 165 basis points against early spread talk in the 190 bps area.
Call protection is for the first 5.5 years.
ANZ Bank, BofA Securities, Citigroup, Goldman Sachs, HSBC and RBC were the bookrunners.
The financial services company is based in Melbourne.
| Issuer: | Australia and New Zealand Banking Group Ltd.
|
| Amount: | $1 billion
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| Issue: | Subordinated tier 2 notes
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| Maturity: | Sept. 18, 2034
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| Bookrunners: | ANZ Bank, BofA Securities, Citigroup, Goldman Sachs, HSBC and RBC
|
| Coupon: | 5.731%
|
| Spread: | Treasuries plus 165 bps
|
| Trade date: | March 11
|
| Ratings: | Moody’s: A3
|
| S&P: A-
|
| Price talk: | Treasuries plus 190 bps area
|
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