Very cost effective and market friendly way of raising Tier 1 capital.
Market friendly to the extent the only other alternative to raise Tier 1 is to actually issue new stock - not what the market want at this time.
Whilst ANZ is not desperate for Tier 1 capital, and whilst above the minimum requirement theirs is a little lower than the others.
Pricing of 250bp above the BBSW was at the lower end of expectations and the demand will see ANZ increase the issue from the initial $500m to over $1bio.
help: advantages of pref shares, page-3
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Last
$31.45 |
Change
-0.345(1.09%) |
Mkt cap ! $93.83B | |||
| Open | High | Low | Value | Volume |
| $31.33 | $31.58 | $31.15 | $56.86M | 1.810M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 1402 | $31.44 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $31.45 | 4058 | 28 |
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| Last trade - 12.52pm 09/09/2024 (20 minute delay) ? |
| ANZ (ASX) Chart |