ANZ Tier 1 tests hybrid demand

摘要

Australia and New Zealand Banking Group is set to test the local Tier 1 market with a Basel Ⅲ-compliant offering at a time when the costs of selling hybrids and Australian banks' capital requirements are both rising. Guidance for the ANZ Capital Notes 3 provisionally sized at A$750m (US$592m) has been set at 180-day BBSW plus 360bp-380bp. This is 80bp-100bp wide of the aggressive 280bp margin Commonwealth Bank of Australia paid for its record A$3bn CommBank Perls Ⅶ Capital Notes issued last September.