ANZ Commences Cash Tender Offer for Any and All of Certain of its Outstanding NotesBy Australia And New Zealand Banking Group Limited, PRNE
Wednesday, December 29, 2010
MELBOURNE, Australia, December 30, 2010 - Australia and New Zealand Banking Group Limited (the "Company"), one of
Australia's largest banking and financial groups, announced today that it has
commenced a cash tender offer (the "Tender Offer") to purchase any and all of
its 3.20% Senior Commonwealth Guaranteed Notes due December 15, 2011 (the
"Notes"). Additional terms and conditions of the Tender Offer are set forth
in the Offer to Purchase dated December 30, 2010 (the "Offer to Purchase")
and the related Letter of Transmittal (the "Letter of Transmittal"). The
offer will expire at 5:00 p.m., New York City time, on January 13, 2011,
unless extended (the "Expiration Date").
The consideration for each $1,000 principal amount of Notes tendered and
accepted for payment pursuant to the Tender Offer will be determined at 11:00
a.m., New York City time, on January 13, 2011 in the manner described in the
Offer to Purchase. The purchase price, which will be determined by reference
to a fixed spread specified for the Notes over the yield based on the
bid-side price of the applicable U.S. Treasury Security as indicated below,
will be announced by news release promptly after its determination.
Aggregate Fixed Title Principal Spread Reference Relevant of Amount (basis Treasury Bloomberg CUSIP No. ISIN Notes Outstanding points) Security Page ------------------------------------------------------------------------ 144A: 144A: 3.20% $1,900,000,000 0 1.125% due PX3 05252AAB7 US05252AAB70 Senior December Reg S: Reg S: Commonwealth 15, 2011 05252BAB5 US05252BAB53 Guaranteed Notes due December 15, 2011
In addition, the Company will pay accrued and unpaid interest up to, but
excluding, the applicable settlement date on all validly tendered Notes
accepted for purchase in the Tender Offer. The settlement date for the Tender
Offer is expected to be the first business day following the Expiration Date
and currently is expected to be January 14, 2011. The Tender Offer remains
subject to meeting certain conditions, and the Company reserves the right to
extend, terminate, withdraw or amend the Tender Offer at any time subject to
The Company has retained BofA Merrill Lynch as Dealer Manager. Global
Bondholder Services Corporation has been retained to serve as the depositary
and to serve as the information agent for the Tender Offer.
For additional information regarding the terms of the Tender Offer,
please contact: BofA Merrill Lynch at (888) 292-0070 (toll free) or (980)
This news release is not an offer to purchase or a solicitation of an
offer to sell any Notes. The Tender Offer is being made only pursuant to the
terms of the Offer to Purchase, and the related Letter of Transmittal.
Requests for documents and questions regarding the tendering of Notes may
be directed to Global Bondholder Services Corporation, at (866) 294-2200
About the Company
The Company is one of the four major banking groups headquartered in
Australia. The Company, together with its subsidiaries, provides a broad
range of banking and financial products and services to retail, small
business, corporate and institutional clients. The Company conducts its
operations primarily in Australia, New Zealand and the Asia Pacific region.
It also operates in a number of other countries including the United Kingdom
and the United States.
Additional information about the Company (including the Company's most
recent annual audited consolidated financial statements) is available on the
Company's website at www.anz.com/aus/shares/finance/disclosure.asp.
The statements in this press release which are not historical facts may
be forward-looking statements. Readers are cautioned not to place undue
reliance on forward-looking statements, which speak only as of the date that
they are made and which reflect management's current estimates, projections,
expectations or beliefs and which involve risks and uncertainties that could
cause actual results and outcomes to be materially different. Risks and
uncertainties that may affect the future results of the company include, but
are not limited to, adverse results from pending or future government
investigations, lawsuits or private actions, the competitive environment,
changes in government regulations, changing relationships with customers,
payers, suppliers and strategic partners and other factors discussed in the
Offer to Purchase.
Mostyn Kau, Director of Group Treasury (Europe Markets), +44-20-3229-2013, Mostyn.Kau at anz.com
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