Street Talk

ANZ hybrid expected to be upsized to $1.5b after Suncorp win

Sarah Thompson, Kanika Sood and Emma Rapaport

Feb 20, 2024 – 1.02pm

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ANZ is expected to upsize its $1 billion hybrid deal by at least $500 million, after the bank succeeded in overturning the competition regulator’s opposition to its $4.9 billion for Suncorp’s banking business on Tuesday.

The Australian Competition Tribunal on Tuesday ruled in favour of ANZ’s bid to buy Suncorp’s bank. Oscar Colman

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.