SDG

ANZ sells first onshore sustainable development bond

The bank is Australia’s first to sell a bond linked to the UN’s sustainable development goals. It also helps with capitalisation in the event of another banking crisis.

Australia and New Zealand Banking Group has sold the first Tier 2 capital bond linked to the United Nation’s sustainable development goals SDG in the Australian market.

The self-led A$1.25 billion $900 million 10.5-year deal printed on 20 August with a coupon of three-month BBSW plus 185 basis points. That gave the bond a coupon of 1.95% when it was issued.

The bond has a first optional redemption date in February 2026.

ANZ group treasurer Adrian Went said that investor demand for the bond was strong. The book was almost covered twice over which allowed pricing to come in 15bp from guidance of...

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