ANZ Bank has attracted more than $2.3bn of demand for its bond raise.
The Tier 2 wholesale subordinated debt deal has been priced at 2.8 per cent above the Bank Bill Swap Rate with an indicative fixed yield of 5.986 per cent.
ANZ has held an investor roadshow in the United States and Australia for the bond raising and is happening at a time its rivals have also tapped the bond to secure more regulatory capital.
It also comes after ANZ recently announced its $4.9bn deal to buy Suncorp Bank and launched a $3.5bn equity raising to pay for the transaction.
Last week NAB attracted $2.8bn of demand for its $1.25bn bond raising. The strong attraction was its high yield – 6.32 per cent – and the fact that the offering was from a good quality institution.
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