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
$31.60 |
Change
-0.190(0.60%) |
Mkt cap ! $94.40B | |||
| Open | High | Low | Value | Volume |
| $31.33 | $31.70 | $31.15 | $85.29M | 2.711M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 19 | 2150 | $31.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $31.60 | 2119 | 16 |
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| Last trade - 15.02pm 09/09/2024 (20 minute delay) ? |
| ANZ (ASX) Chart |