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Pricing narrows on subordinated bank debt

ANZ last week tapped the Euromarket with a ten-year, lower Tier II, subordinated bond issue. The ANZ raised €750 million at mid-swaps plus 175 basis points. Commonwealth Bank tapped the same market with a ten-year, lower Tier II, subordinated debt issue at the end of July and paid 190 bps over Libor for a €1.0 billion raising.

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