New Issues

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ANZ Bank New Zealand Limited ("ANZ")


ANZ Bank New Zealand Limited

Issue type Mandatory convertible, non-cumulative perpetual subordinated debt securities
Rank Ranks equally with other note holders and subordinated debt holders and ahead of claims of ordinary shareholders, but below all other creditors of ANZ
Maturity Perpetual. Optional Exchange Date 25 May 2020, Mandatory Conversion Date 25 May 2022
Early redemption No provision - can be sold on secondary market
Coupon (%) An indicative margin is between 3.50% to 3.60% p.a. over the interpolated 5yr and 6yr swap rate
Amount $250 million (unlimited subscriptions at issuers discretion)
Opening date 6 March 2015
Closing date 27 March 2015
Listed ANBHB
Credit rating BBB-
Lead manager(s) ANZ, Deutsche Craigs, First NZ Capital, Forsyth Barr, Goldman Sachs, Macquarie
Information Indicative Term Sheet


ANZ new retail capital note bond issue. There is no public pool for this offer.


  • Swap or NGZS plus a margin means the actual rate will be set at that margin over the relevant maturity swap rate or Government bond rate, usually a couple of days before the issue date. Click here for swap rates and here for Government bond rates.
  • The amount on offer is usually allocated to brokers who then accept subscriptions up to their allocations. The lead manager(s) control the allocation of bonds. There can be a public pool which is not allocated and subscriptions under the public pool are made directly to the issuer or lead manager(s).
  • Listing on NZDX unless stated otherwise.