ANZ CPS Margin Announcement and Replacement Prospectus
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Australia and New Zealand Banking Group Limited (ANZ) | 1:28 pm, Thursday 4 September 2008 | ANZ | 14.650 |
 -0.850 |
(-5.48%) |
For Release: 4 September 2008
ANZ CPS Margin Announcement
Australia and New Zealand Banking Group Limited (ANZ) has today announced the
Margin for its Offer of Convertible Preference Shares (CPS) following the
successful completion of the Bookbuild.
The Margin for the proposed issue of CPS has been set at 2.50% per annum.
Following strong investor demand for CPS under the Bookbuild, ANZ has
increased the size of the Offer. ANZ now intends to issue approximately 10
million CPS at an Issue Price of $100 each, to raise $1 billion, with the
ability to raise more or less.
ANZ Group Treasurer Rick Moscati said: "Both retail and institutional
investors have responded positively to the Offer and we are pleased with the
outcome of the Bookbuild. We believe the increased Offer size and the Margin
represents an excellent result for both ANZ and our investors."
Dividends in respect of CPS are scheduled to be paid quarterly in arrears.
The Dividend Rate will be calculated each quarter as the sum of the Bank Bill
Rate plus the Margin, together multiplied by (1- corporate tax rate (which is
currently 30%)). The Dividend Rate in relation to the first dividend payment
(which is scheduled to be made on 15 December 2008) will be determined on the
Issue Date (expected to be 30 September 2008).
The Offer opens today and comprises:
An ANZ Securityholder Offer, open to holders of Ordinary Shares shown on the
Register at 5:00pm on 18 August 2008 or holders of ANZ StEPS shown on the
Register at 5:00pm on 31 July 2008 (ANZ Securityholders);
A General Offer open to Australian and New Zealand residents;
A Broker Firm Offer open to clients of a Syndicate Broker invited to
participate through the Broker Firm Offer; and
An Institutional Offer open to Institutional Investors that have been invited
by the Joint Lead Managers to bid for CPS through the Institutional Offer.
A replacement Prospectus (which is attached to this media release) has been
lodged with ASIC and includes the Margin and the revised amount proposed to
be raised by ANZ pursuant to the Offer. A copy of the Prospectus (including a
personalised Application Form for ANZ Securityholders) can be obtained by
contacting the ANZ Information Line on 1800 113 399 (Australia), 0800 174 007
(New Zealand) or +61 3 9415 4010 (international).
An electronic version of the Prospectus will be made available at
www.anz.com/CPSOffer. The electronic Prospectus will include an Application
Form which General Applicants may print, complete and attach their
Application Payment to, and send to the Registry in accordance with the
instructions on the Application Form. Alternatively, ANZ Securityholder
Applicants and General Applicants may view the electronic Prospectus, apply
for CPS online and make their Application Payment using BPAY.
The ANZ Securityholder Offer and General Offer are expected to close at
5:00pm (Melbourne time) on 24 September 2008. The Broker Firm Offer is
expected to close at 10:00am (Melbourne time) on 29 September 2008.
For investor enquiries contact:
The ANZ Information Line on 1800 113 399 (Australia), 0800 174 007 (New
Zealand) or +61 3 9415 4010 (international).
For media enquiries only, please contact:
Cherelle Murphy
Senior Media Relations Manager
Tel: 03-9273 6190 or 0409 655 551
Email: cherelle.murphy@anz.com
Key dates for the Offer Lodgement of the Original Prospectus with ASIC 27
August 2008 Bookbuild to determine the Margin 3 September 2008
Announcement of the Margin and lodgement of the Replacement Prospectus with
ASIC 4 September 2008
Opening Date 4 September 2008
Closing Date for ANZ Securityholder Offer and General Offer 5.00pm
Melbourne time, 24 September 2008
Closing Date for Broker Firm Offer 10.00am Melbourne time, 29 September
2008
Issue Date 30 September 2008
CPS commence trading on ASX (deferred settlement basis) 1 October
2008
Holding Statements despatched by 3 October 2008
CPS commence trading on ASX (normal settlement basis) 6 October 2008
First quarterly Dividend Payment Date 15 December 2008
Mandatory Conversion Date 16 June 2014
The key dates and times for the Offer are indicative only and may change
without notice.
Capitalised terms in this media release have the meaning given to them in the
Prospectus.
Dividends are scheduled to be paid at the end of each quarterly Dividend
Period (on 15 March, 15 June,
15 September and 15 December each year) subject to the Payment Tests. If any
of these scheduled dates are not Business Days, then the Dividend Payment
Date will occur on the next Business Day.
The Mandatory Conversion Date may be later than 16 June 2014, or may not
occur at all, if the Mandatory Conversion Conditions are not satisfied, or if
ANZ elects for a third party to purchase the CPS.
See attached Document
