Real money buyers flock to ANZ tier two

31 Jul 2012

Fund managers and Asian private banking investors drove demand for Australia & New Zealand Bank’s $750m 10 year non call five tier two on Tuesday, underlining the depth of liquidity available for strong names untarnished by the eurozone crisis.

ANZ jumped into the market ahead of tomorrow’s European Central Bank meeting, opting for an old-style tier two structure — without the point of non-viability language that was included in ABN Amro’s recent deal, for example.

The Australian borrower was looking to take advantage of the format’s ...

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