Australia and New Zealand Banking Group Limited announced today they had agreed to allocate $850 million of ANZ Capital Notes 3 under the bookbuild and set the interest margin for the issue at 3.60% per annum. This was the low end of the range (3.60-3.80% per annum) and equates to a yield of 5.99% based on the 180-Day BBSW (Mid) set on 4 February 2015. The general offer is now open and based on previous general offers we expect this security to be upsized to over $1.0 billion.
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