ANZ has announced it will allocate $850m of ANZ Capital Notes 3 under the bookbuild process and has set the margin over the 180 day BBSW at 3.6% p.a. The offer is open from February 5, use of proceeds are for general corporate purposes, and the Notes form part of ANZ’s ongoing capital management strategy. The Notes are Basel III – compliant Additional Tier 1 Capital under APRA’s current capital adequacy standards. Distributions are non-cumulative, based on a floating rate, and are subject to Payment Condition not existing, and ANZ’s discretion.

Joint lead managers are ANZ Securities, Citi, Commonwealth Bank, Goldman Sachs, JP Morgan, Morgans, Morgan Stanley, and UBS. Co-managers include Bell Potter, JBWere, and Ord Minnett.

The closing date for the offer is Thursday 26th February 2015. Further details can be found in the prospectus at https://capitalnotes3.anz.com/offer/