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News on New Investment

ANZ Bank New Zealand Limited (ANZ) announced that it is making two offers of unsecured unsubordinated bonds to institutional and New Zealand retail investors.

The offers are for up to NZ$100 million floating rate bonds and up to NZ$100 million fixed rate bonds (together the Bonds), with the ability to accept unlimited oversubscriptions at ANZ’s discretion.

The offers opened on the 10th of March 2016, and are expected to close on 16 March 2016. The Bonds are expected to be issued on 22 March 2016.

The floating rate bonds have a maturity date of 22 March 2019 and the indicative margin is 1.00% per annum.

The fixed rate bonds have a maturity date of 22 March 2021 and the indicative margin is 1.40% per annum.

The margins on the fixed and floating rate bonds (which may be above or below the indicative margins) and the interest rate on the fixed rate bonds will be set following a bookbuild process on 16 March 2016 and will be announced by ANZ via NZX shortly thereafter.