ANZ considers a perpetual preference share offer

ANZ Bank New Zealand Limited (ANZ) is considering making an offer of up to NZ$250 million (with the ability to accept unlimited oversubscriptions at ANZ's discretion) of perpetual preference shares (PPS) to New Zealand investors. The PPS are expected to constitute Additional Tier 1 Capital for ANZ's regulatory capital requirements. The PPS will not have a fixed term and will remain on issue indefinitely if not redeemed by ANZ. If certain conditions are met, ANZ may redeem the PPS after 6 years and on each quarterly scheduled distribution payment date after that date, or at any time for tax or regulatory reasons. The PPS are expected to have a credit rating of BBB from S&P Global Ratings. If ANZ offers the PPS, the offer will be made in accordance with the Financial Markets Conduct Act 2013. ANZ expects to release full details of the offer in early March. ANZ is the Arranger and ANZ, Craigs Investment Partners Limited, Forsyth Barr Limited, Hobson Wealth Partners Limited and Jarden Securities Limited have been appointed as Joint Lead Managers in relation to the proposed offer. Investors can register their interest in the offer by contacting a Joint Lead Manager or their usual financial advice provider. Indications of interest will not constitute an obligation or commitment of any kind to acquire PPS. No money is currently being sought and applications for the PPS cannot currently be made. The PPS are expected to be quoted on the NZX Debt Market. Penny Dell Treasurer Phone: +64 4 439 2474 Email: nztreasurer@anz.com End CA:00426792 For:ANB Type:OFFER Time:2024-02-26 08:31:15