ANZ to sell first Basel III foreign bank dim sum

The Australian bank plans to tap the offshore renminbi bond market as are other non-Chinese financial institutions.

ANZ to sell first Basel III foreign bank dim sum

Australia and New Zealand Banking Group is poised to become the first foreign bank to issue Basel III-compliant bonds denominated in offshore renminbi.

ANZ, Australia’s third-largest bank by market value, will meet investors in Hong Kong on Monday and in Singapore on Tuesday to market the issue.

ANZ and HSBC are joint global coordinators for the deal with CCB International, ICBC and Standard Chartered acting as joint book runners.

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