ANZ New Zealand has borrowed NZ$350 million through a three-year issue of floating rate notes priced at 65 basis points over the 90-day bank bill rate.
Opening on Wednesday and closing yesterday, the issue's due to settle on Monday and mature three years later on November 18, 2016.
The initial interest rate will be set at 65 basis points over the 90-day bank bill rate, which was 2.67% yesterday. Interest will be paid quarterly in arrears. The notes, and the interest, will be direct, unsecured, unsubordinated obligations of ANZ.
The record date will be 10 days before the interest payment date, or if this isn't a business day, the immediate proceeding business day.
The notes are being sold in minimum denominations of $500,000 with multiples of $100,000 thereafter. The bank says the proceeds raised will be used for "general business purposes."
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