Australian and New Zealand Bank Group (ANZ) test drove the first covered bond under Australia's new legal framework.

ANZ has raised $US1.25 billion ($1.24bn) from the first issue of covered bonds, according to a Dow Jones report. The transaction is a five-year U.S. dollar-denominated issue.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.