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ANZ completes $1.31bn capital notes issue

Banking giant ANZ has been advised on its $1.31 billion capital notes 7 issue, which involved a reinvestment offer under which eligible holders of ANZ capital notes 2.

April 01, 2022 By Jerome Doraisamy
ANZ
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Firm: Herbert Smith Freehills (10 joint lead managers); King & Wood Mallesons (ANZ).

Deal: ANZ has completed an offer of capital notes 7, which will constitute additional tier 1 capital under Australian Prudential Regulation Authority standards, are mandatorily convertible subordinated perpetual securities issued by ANZ, HSF said in a statement, noting that the bank will use the proceeds of the offer to refinance CN2 and for general corporate purposes.

Area: Equity capital markets

Value: $1.31 billion

Key players: The Herbert Smith Freehills team was led by partners Philippa Stone and Fiona Smedley, who were supported by senior associates Charlotte Cameron, Yorick Ng, and Michael Burrell, and solicitors Adrian Palladino and David Tilley.

Deal significance: Speaking about the issue, Ms Stone said: “We are delighted to have again acted for the joint lead manager syndicate on another successful ANZ notes transaction, particularly as this transaction marks the first bank hybrid under the new product design and distribution obligations regime in Part 7.8A of the Corporations Act.”

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Jerome Doraisamy

Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.

You can email Jerome at: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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