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imageSINGAPORE: Australia and New Zealand Banking Group is sounding out the market for a potential issue of Singapore dollar Basel III Tier 2 notes on hopes of a repeat success of its debut print last March.

ANZ, DBS and UOB are joint lead managers of the new notes, which will likely offer a straight 10-year tenor with no call option.

The Australian bank was heard sounding out the market at a preliminary price indication of 5 percent.

Last March, ANZ raised S$500 million through 12-year non-call seven notes at 3.75 percent, drawing orders of S$700 million.

It is one of a few banks seeking to raise Tier 2 funds in the Singapore dollar bond market.

DBS launched its 12-year non-call seven issue this morning at a guidance in the high 3 percent area.

Copyright Reuters, 2016

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