ANZBGL updates domestic debt program terms, effective 2025

Australia and New Zealand Banking Group Limited (ANZBGL) announced updates to its Australian Dollar Debt Issuance Programme, effective September 17, 2025. The revisions amend and restate the deed poll, initially established on June 20, 2001, and subsequently modified several times, with the most recent prior amendment on August 9, 2023. This programme facilitates the issuance of Medium Term Notes and Subordinated Notes.

The updated Information Memorandum outlines that the Notes will be registered debt obligations, with title conferred upon entry in the Register. Denominations for Notes issued in Australia must be at least A$500,000. Payments of interest and principal will be made to Holders as recorded on the Register, subject to local Registry Office time on the relevant Record Date.

A key change for Subordinated Notes includes mandatory conversion into ANZGHL Ordinary Shares or Write-Off if APRA determines it necessary for the Issuer’s viability. Such conversion or write-off may occur if a Non-Viability Trigger Event happens, with specific provisions for handling partial conversions and the issuance of shares to a nominee under certain circumstances, including when a Subordinated Noteholder does not wish to receive ANZGHL Ordinary Shares or if they are a "Foreign Holder."