ANZ in $500m subordinated notes issue

Reported by AAP
Tuesday, February 14, 2012
Topics in this article:
Australia And New Zealand Banking

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ANZ Banking Group plans to raise $500 million via an issue of subordinated notes that it will apply to be quoted on the Australian Securities Exchange.

ANZ group treasurer Rick Moscati said the notes provided retail investors with a simple, defensive investment opportunity that was usually only available to wholesale investors.

The bank on Monday said it would axe 1,000 jobs from its 24,000-strong Australian workforce by September.

On Friday, ANZ was the first bank to react to the Reserve Bank of Australia's decision to keep interest rates on hold, raising its standard variable rate on mortgages by six basis points.

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22/05/2012 00:51Sydney, Australia. 22 May,2012
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