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ANZ announces $2.5 billion capital raising

ANZ announces $2.5 billion capital raising

ANZ Bank has today sought to raise $2.5 billion via a fully underwritten institutional share placement.

ANZ Bank has today sought to raise $2.5 billion via a fully underwritten institutional share placement, which would help fund the acquisition of the Royal Bank of Scotland’s (RBS’s) Asian business. 

The bank announced the share placement to the ASX this morning, while also confirming it was part of the competitive sale process being conducted by the RBS. 

ANZ said the capital raising would allow it to fund a potential acquisition of certain RBS assets, which with some of the money also being used to bolster its balance sheet.

The bank, Australia's fourth biggest lender, also signalled that bad debt charges were likely to be about 20 per cent higher in the second half of its fiscal year than in the first half, when charges totalled $1.44 billion.

The placement has been fully underwritten by Deutsche Bank AG Sydney branch, JP Morgan Australia Ltd and UBS AG Australia.  


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