ANZ National International Ltd (London)

  • 22 Sep 2005
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Rating: Aa3/AA-/AA-
Amount: £300m
Maturity: 6 October 2008
Issue price: 100.028
Coupon: three month Libor plus 2bp
Spread at launch: Libor plus 3bp
Launch date: Thursday 22 September
Payment date: 8 October
Sole mgr: Barclays Capital

Bookrunner's comment:

This borrowing entity is the New Zealand subsidiary of the ANZ Banking Group and is a combination of ANZ's old New Zealand businesses and the businesses the bank bought from Lloyds TSB in 2003.

It is the largest bank in New Zealand and is a core part of the ANZ Banking Group, contributing around 22% of group profits. As a result the rating agencies rate the issuer the same as the parent, although it is not explicitly guaranteed.

We have seen a number of short dated high quality sterling FRNs come to the market recently from issuers such as BBVA, Bank of Nova Scotia, Abbey and DnB NOR, all of which have seen good demand and have sold predominantly into the UK money market and asset manager investor base.

Given the cash levels within these investors, we knew there were further good opportunities for rare names where credit lines were likely to be freer than for some of the more regular issuers in the UK market.

We announced the deal as a benchmark three year transaction at sterling Libor plus 3bp area and the book built steadily during the course of yesterday (Wednesday) and this morning, allowing us to price a £300m transaction at plus 3bp this afternoon.

As anticipated UK money market funds and banks formed the base for the transaction with some continental European interest also seen.

  • 22 Sep 2005

All International Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 92.59 388 8.96%
2 Citi 85.30 278 8.25%
3 BofA Securities 63.15 265 6.11%
4 Barclays 58.01 223 5.61%
5 Deutsche Bank 55.74 184 5.39%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 60.87 123 14.06%
2 Credit Agricole CIB 28.59 93 6.60%
3 Santander 25.41 90 5.87%
4 JPMorgan 23.88 61 5.52%
5 UniCredit 21.51 103 4.97%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 2.07 11 10.42%
2 BofA Securities 1.40 6 7.01%
3 Citi 1.37 7 6.87%
4 Morgan Stanley 1.36 6 6.85%
5 JPMorgan 1.31 7 6.59%