On 22 July, ANZ New Zealand (AA-/A1/A+) revealed it is considering an indicative NZ$250 million (US$174.2 million), 10-year non-call five-year (10NC5), tier-two transaction. The deal is expected to be rated A- by S&P Global Ratings, with full details to be released by early August. ANZ is arranger and joint lead manager alongside Craigs Investment Partners, Forsyth Barr, Hobson Wealth Partners and Jarden Securities.