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ISSUER: ANZ Bank New Zealand Limited

INSTRUMENT: Unsecured, unsubordinated fixed rate bonds

NO GUARANTEE: The Bonds are not guaranteed by any member of the ANZ Group or any other person

ISSUER RATING: AA- (negative outlook) S&P / Aa3 (negative outlook) Moody’s / AA- Fitch

EXPECTED ISSUE RATING: AA- S&P / Aa3 Moody’s / AA- Fitch

ISSUE PRICE: Par ($1.00)

MINIMUM APPLICATION: NZ$10,000 and NZ$1,000 thereafter

INTEREST PERIOD: Semi-annual in arrear in two equal payments,

SWAP RATE: The mid market swap rate for an interest rate swap from the Issue Date to the Maturity Date as calculated by references to Reuters page ICAPKIWISWAP1, rounded to 2 decimal places if necessary, with 0.005 being rounded up

LISTING: Application has been made to NZX for permission to quote the Bonds on the NZX Debt Market

ARRANGER: ANZ

MATURITY DATE: Thursday, 2 September 2021 Friday, 1 September 2023

SIZE: Up to NZ$100,000,000 plus unlimited oversubscriptions Up to NZ$100,000,000 plus unlimited oversubscriptions

INTEREST RATE: Equal to the Swap Rate plus the Margin Equal to the Swap Rate plus the Margin

INDICATIVE MARGIN: 1.25-1.30% p.a. 1.48-1.53% p.a.

INTEREST PAYMENT DATES: 2 March and 2 September during the term of the Bonds commencing on 2 March 2017 1 March and 1 September during the term of the Bonds commencing on 1 March 2017

IMPORTANT DATES

OPENING DATE: Tuesday, 23 August 2016

CLOSING DATE / BIDS DUE: 2.00pm, Friday 26 August 2016

RATE SET DATE: Friday, 26 August 2016

ISSUE DATE: Friday, 2 September 2016 Thursday, 1 September 2016

EXPECTED QUOTATION: Monday, 5 September 2016 Friday, 2 September 2016