Australia and New Zealand Banking Group Limited’s Offer Of ANZ Capital Notes 6

Herbert Smith Freehills advised the Joint Lead Managers of Australia and New Zealand Banking Group Limited’s offer of ANZ Capital Notes 6. ANZ was advised by King & Wood Mallesons.

The offer also involved a reinvestment offer under which holders of ANZ Capital Notes 1 were able to apply to sell some or all of their ANZ Capital Notes 1 and reinvest the proceeds in the Notes or receive cash.
The Notes are fully paid, convertible, perpetual, unsecured, subordinated notes issued by ANZ. The Notes will constitute Additional Tier 1 Capital under APRA standards. The proceeds from the issue will be used to refinance the ANZ Capital Notes 1 and for general corporate purposes.

Herbert Smith Freehills acted for the nine Joint Lead Managers, being ANZ Securities Limited, Commonwealth Bank of Australia (Capital Markets Division), E&P Corporate Advisory Pty Limited, Morgan Stanley Australia Securities Limited, Morgans Financial Limited, Ord Minnett Limited, Shaw and Partners Limited, UBS AG, Australia Branch and Westpac Institutional Bank.

The Australia and New Zealand Banking Group Limited, commonly called ANZ, is an Australian multinational banking and financial services company headquartered in Melbourne, Australia. It is the second largest bank by assets and third largest bank by market capitalisation in Australia. 

The Herbert Smith Freehills team was led by partner Philippa Stone (Picture), supported by senior associate Michael Burrell and solicitor Alex Jarmyn.

Involved fees earner: Michael Burrell – Herbert Smith Freehills; Alex Jarmyn – Herbert Smith Freehills; Philippa Stone – Herbert Smith Freehills;

Law Firms: Herbert Smith Freehills;

Clients: ANZ Securities Limited; Commonwealth Bank of Australia; E&P Corporate Advisory Pty Limited; Morgan Stanley Australia; Morgans Financial Limited; Ord Minnett; Shaw and Partners; UBS AG Australia Branch; Westpac Banking Corporation;

Author: Sonia Carcano