ANZ today closed its offer for the ANZ Capital Notes 5 (ASX: ANZPH). The bank revealed it would allocate ~$930 million of the notes under the ANZ Securityholder Offer and Broker Firm Reinvestment Offer. As a result, the Broker Firm New Money Offer will not proceed.
~$812 million of the ANZ Convertible Preference Shares 3 (ASX: ANZPC) were either reinvested into the ANZPH transaction (~$682 million) or redeemed for cash (~$130 million) via the buy-back facility. Consequently, ~$528 million of ANZPC will be left outstanding until redeemed (callable each semi-annual interest payment date up to the mandatory conversion date in September 2019).
Subject to settlement of the ANZPC buy-back, eligible holders will be issued ANZPH or paid cash on the 28th of September 2017.
ANZPH holders on the 20th of September 2017 (record date) will receive a pro-rata dividend of $0.2586 per unit.