Article: AUSTRALIA'S ANZ BANK TO REDEEM US$350 MLN IN TRUST SECURITIES.

SYDNEY, Nov 6 Asia Pulse - ANZ Banking Group Ltd will redeem US$350 million of trust securities, reducing the company's Tier 1 capital to about 9.3 per cent.

The bank will pay US$1,000 each for the 350,000 trust securities, which comprise a preference share stapled to notes paying an interest rate of 4.484 per cent, Melbourne-based ANZ said in a statement on Friday.

The securities qualified as innovative Tier 1 capital, as defined by the ...

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