Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statement
Advertisement
Street Talk

Macquarie, UBS launch ANZ Bank’s $3.5b raising

ANZ Banking Group is offering new shares at a 12.7 per cent discount to the last close in an effort to raise $3.5 billion to acquire Suncorp’s bank.

Street Talk.  Fairfax Media

ANZ’s brokers and underwriters, Macquarie Capital and UBS, launched the deal on Monday morning.

The brokers were offering stock at $18.90 a share, which was a 12 per cent discount to the theoretical ex-rights price and 12.7 per cent less than the last close.

The raising was targeted at ANZ’s existing shareholders. The deal was structured as a one-for-15 rights renounceable entitlement offer, accelerated for institutional investors, to raise $3.5 billion.

It would see about 186.9 million new shares issued.

Advertisement

Macquarie and UBS underwrote the offer in full, guaranteeing ANZ its $3.5 billion.,

The Melbourne-based lender requested a trading halt starting first thing Monday morning, paving the way for the institutional component of its raising to play out. Its shares were expected to stay off the ASX for the first half of the week.

The deal, as revealed by Street Talk, would help ANZ pay for its acquisition of Suncorp’s bank.

Anthony Macdonald co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
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. Email Sarah at sarah.thompson@afr.com
Kanika Sood is a journalist based in Sydney who writes for the Street Talk column. Email Kanika at kanika.sood@afr.com.au

Read More