By Andrea Heisinger
New York, Sept. 4 - ANZ Banking Group Ltd. sold $3 billion of covered bonds (Aa2/AA-/AA-) in three tranches on Tuesday, an informed source said.
The size of the trade was increased from a minimum of $1 billion and the tranche of three-year floating-rate notes was added at the launch.
A $750 million tranche of three-year floaters priced at par to yield Libor plus 61 basis points.
A second part was $1.5 billion of 1% three-year notes priced at 99.798 to yield 1.067% with a spread of mid-swaps plus 61 bps. The tranche was sold at the tight end of guidance in the mid-swaps plus 65 bps area.
There was also $750 million of 1.75% five-year notes priced at 99.572 to yield 1.875% with a spread of Treasuries plus 135 bps. The bonds were also priced at the low end of talk in the 140 bps area.
All of the bonds are non-callable.
Bookrunners were ANZ, Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC.
The financial services company is based in Melbourne, Australia.
| Issuer: | ANZ Banking Group Ltd.
|
| Issue: | Covered bonds
|
| Amount: | $3 billion
|
| Bookrunners: | ANZ, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC
|
| Trade date: | Sept. 4
|
| Settlement date: | Sept. 11
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
|
|
| Three-year floaters
|
| Amount: | $750 million
|
| Maturity: | Oct. 6, 2015
|
| Coupon: | Libor plus 61 bps
|
| Price: | Par
|
| Yield: | Libor plus 61 bps
|
| Call: | Non-callable
|
|
|
| Three-year fixed-rate notes
|
| Amount: | $1.5 billion
|
| Maturity: | Oct. 6, 2015
|
| Coupon: | 1%
|
| Price: | 99.798
|
| Yield: | 1.067%
|
| Spread: | Mid-swaps plus 61 bps
|
| Call: | Non-callable
|
| Price talk: | Mid-swaps plus 65 bps area
|
|
|
| Five-year notes
|
| Amount: | $750 million
|
| Maturity: | Oct. 6, 2017
|
| Coupon: | 1.75%
|
| Price: | 99.572
|
| Yield: | 1.875%
|
| Spread: | Treasuries plus 135 bps
|
| Call: | Non-callable
|
| Price talk: | 140 bps area
|
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