ANZ Banking Group has raised A$19 billion ($23.9 billion) of its wholesale term funding requirements in fiscal 2009, after raising A$1 billion in a domestic debt issue without using the federal Government's guarantee last Tuesday.
Although yet to make a non-guaranteed issue in offshore markets, ANZ said it has maintained
access to all major global funding markets and lengthened the tenure of new term debt issuance to four years.
But funding costs remain elevated, the bank said. "Forward maturities remain very manageable," ANZ said.
After last Tuesday's A$1 billion issue of three-year fixed and floating rate notes priced at a spread of 128 basis points over swap/BBSW, the bank has now completed 90 per cent, or A$19 billion, of its term funding requirements for 2008-09.
Of this, A$16 billion was raised during the first half 2009, and A$2 billion was raised in April, the bank said.
In 2007-08 the bank raised A$24 billion in wholesale markets.
By March 2009, 54 per cent of the bank's total funding requirements was being met by customer deposits, up from 50 per cent in September 2008.
Fifteen per cent was met by long-term wholesale funds with maturities over one year, and 6 per cent was met by wholesale funds with maturities under one year.
Eighteen per cent was met by short-term wholesale funds, down from 22 per cent in September 2008.
Seven per cent was met by hybrid issues.
- AAP
