ANZ eyeing up $250m perpetual preference share offer

ANZ Bank New Zealand is considering a perpetual preference share offer of up to $250 million.In an announcement to the debt market on Monday, the bank said the shares (PPS) would not have a fixed term and would remain on issue indefinitely if not redeemed by ANZ.“If certain conditions are met, ANZ may redeem the PPS after six years and on each quarterly scheduled distribution payment date after that date, or at any time for tax or regulatory reasons.”ANZ, which expects to release the full details in early March, has appointed Craigs...