KEY POINTS:
Three weeks after raising $1 billion in a convertible share issue, ANZ Banking Group wants to raise another $600 million in convertible notes.
The unlisted hybrid tier 1 convertible notes will be issued by ANZ's New York branch and targeted at institutional investors in $500,000 parcels.
The notes are non-cumulative, perpetual, subordinated and pay a monthly coupon of 2 per cent above the bank bill rate.
Separately, the market for samurai bonds has ground to a halt due to market disruption after Lehman Brothers' bankruptcy.
- NZPA
