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ANZ Bank New Zealand upsizes debt offering

ANZ Bank New Zealand Ltd. increased the size of its debt offering and set the margin of the issuance after completing the bookbuild process.

The bank said May 24 it increased the offer size of unsecured unsubordinated fixed-rate bonds due May 30, 2023, to NZ$500 million from NZ$100 million. The margin was set at 1.05% per year, the upper end of the previously provided expected range. Further, the interest rate was set at 3.70% per year.

The bonds will be issued May 30.

As of May 24, US$1 was equivalent to NZ$1.45.