ANZ Financial Performance Overview
SECTION 2
Funding the NBNZ acquisition
Target ACE/RWAS ratio range lowered to
4.75-5.25%
The transaction is to be funded via the
following sources:
Net proceeds of A$3.570 billion from a
2 for 11 deeply discounted rights issue
at $13
A$1.370 billion in Hybrid,
subordinated and wholesale funding
The size of the equity raising is a function of
the goodwill arising on acquisition*
Upon completion:
ACE ratio of approximately 5.0%
Tier 1 ratio of approximately 6.7%
Total capital ratio of approximately
10.2%
Source of Funds
A$m
Rights issue net proceeds
Debt/Hybrid
Total
3,570
1,370
4,940
Use of Funds
A$m
4,915
25
4,940
Proceeds to Lloyds TSB
Transaction costs
Total
Goodwill on Acquisition
Purchase consideration
LESS NTA on acquisition
Goodwill on acquisition
* - Goodwill will be amortised in line with Australian Accounting Standards based on 30 June 2003 pro-forma financial statements and will be finalised
based on 30 November 2003 net assets
12
A$m
4,915
(1,657)
3,258*
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