ANZ Bank New Zealand Limited (ANZ) has set the interest rate for the first 5 years (until the First Optional Redemption Date (17 September 2026) of its NZ$600,000,000 unsecured subordinated notes (Notes) issue at 2.999% per annum. This equals the Issue Margin plus the Swap Rate.
The interest rate for the second 5 years, from the First Optional Redemption Rate until the Maturity Date (17 September 2031), will be a floating rate that equals the Issue Margin plus the applicable 3 Month Bank Bill on the first business day of each interest period. The interest rate for each interest period during the second 5 years will be announced on or about the first day of the interest period via NZX.
The Notes are expected to be quoted on the NZX Debt Market under the ticker code ANB170 on 20 September 2021. The Issue Date is 17 September 2021.
Details of the offer and the Notes are contained in the limited disclosure document for the offer, which is available at the link below.
For further information, please contact a Joint Lead Manager (listed below) or your usual financial advisor.